Advice on Niche Market Exit Planning
Selling a Television Tuner Repair and Rebuilding Business
Owning a television tuner repair and rebuilding business hasn't always been a bed of roses, but it's been worth the effort. The next step is to position your business for the demands of the business-for-sale marketplace.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your television tuner repair and rebuilding business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your television tuner repair and rebuilding business to today's buyers.
When the Sale Goes Off-Course
Many television tuner repair and rebuilding business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. 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. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
Pre-Sale Checklist
The upfront time you investment in the sale of your television tuner repair and rebuilding business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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.
Share this article
Additional Resources for Entrepreneurs