Sell a Business Tips
Selling a Stairs and Stairway Builders Business
With the economy limping along, many stairs and stairway builders business owners are hesitant to put their businesses on the market. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your stairs and stairway builders business on the market.
The stairs and stairway builders business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a stairs and stairway builders business, you can - even in today's economy. Here's how to do it . . .
Broker vs. No Broker
When selling a stairs and stairway builders business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a stairs and stairway builders business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your stairs and stairway builders business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Negotiation 101
It's critical to negotiate from a position of strength. In a stairs and stairway builders business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
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