Exit Planning Tips
Selling a Home Improvement Loans Business
Selling a home improvement loans business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Today's home improvement loans business buyers tend to be more skeptical than most about the nation's economic outlook.
In today's market, there is still plenty of room for home improvement loans businesses that demonstrate solid earning capacity and a robust market position.
Realistic Expectations
For most owners, the hardest part of selling a home improvement loans business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful home improvement loans business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your home improvement loans business, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your home improvement loans business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your home improvement loans business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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