Sell a Business Tips
Selling a Storm Door and Window Repair Business
Many business leaders say that now isn't the time to try to sell a storm door and window repair business. At Gaebler, we think it's a great time to sell a storm door and window repair business. Here's why . . ..
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a storm door and window repair business, capital restrictions are holding them back.
Most storm door and window repair businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Broker vs. No Broker
When selling a storm door and window repair business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. 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 storm door and window repair business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your storm door and window repair business on BizBuySell.com and other popular online business-for-sale listing sites.
What About Market Conditions?
No one plans to sell a storm door and window repair business in a down economy. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your storm door and window repair business as attractive as possible so to buyers right now.
Pros & Cons of a Sale to an Employee
Although it may seem easier to sell your storm door and window repair business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based storm door and window repair business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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