Sell a Business Tips
Selling a Sheltered Workshops Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet sheltered workshops businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Despite your best intentions, great business sales don't happen overnight.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to sheltered workshops businesses that exhibit strong financials and potential for future growth.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. You have invested yourself in making your sheltered workshops business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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. On the one hand, confidentiality is critical for a successful sheltered workshops business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the sheltered workshops business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
Leveraging Industry Connections
These days, sheltered workshops business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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