Sell a Business Tips
Selling a Sweeping Compounds Business
Forget about what you read in the paper -- sweeping compounds businesses are being sold everyday and the business-for-sale market is poised for even greater growth in the months ahead.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a sweeping compounds business.
The business-for-sale market is extremely dynamic. That's why we think it's important for sweeping compounds business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your sweeping compounds business to today's buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Signs You're in Over Your Head
The sweeping compounds business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Advertising Your Sale
Profitable sweeping compounds business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. The best way to advertise a sweeping compounds business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
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