Advice on Niche Market Exit Planning
Selling a Television Station Equipment Dealers Business
A good business is about more than dollars and sense. To make your television station equipment dealers business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Selling a television station equipment dealers business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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.
Timing the Market
Now may be the best time to sell a television station equipment dealers business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on television station equipment dealers businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for 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
Many television station equipment dealers business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your television station equipment dealers business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
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