Business Exit Planning
Selling a Major Appliance Dealers Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the major appliance dealers business market has been exceptionally volatile. Here's what you'll need to know to sell a major appliance dealers business during challenging economic times.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your major appliance dealers business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
When Is the Right Time to Sell?
When is it the right time to sell your major appliance dealers business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling major appliance dealers business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your major appliance dealers business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality major appliance dealers businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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