Advice on Niche Market Exit Planning
Selling a Tent Repair Business
It's a misconception that no one is buying tent repair businesses these days. Savvy entrepreneurs see tent repair business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Market timing is a constantly moving target. That's why we think it's important for tent repair 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 tent repair business to today's buyers.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your tent repair business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some tent repair business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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