Advice on Niche Market Exit Planning
Selling a Television and Radio Speakers Service and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet television and radio speakers service and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your television and radio speakers service and repair business can attract buyers who recognize its potential.
There is no simple way to sell a business. But the most prepared television and radio speakers service and repair business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Average Timeframes
Hoping for a quick television and radio speakers service and repair business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your television and radio speakers service and repair business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Turning the Tables: Buyer Concessions
Most television and radio speakers service and repair business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Should I Hire a Business Broker?
When selling a television and radio speakers service and 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 television and radio speakers service and repair business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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