Advice on Niche Market Exit Planning
Selling a Tiles Refinishing, Cleaning, and Repair Business
Most businesses are susceptible to economic conditions and tiles refinishing, cleaning, and repair businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
In a down economy, many tiles refinishing, cleaning, and repair business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of tiles refinishing, cleaning, and repair businesses that are actually for sale.
If your exit strategy involves selling a tiles refinishing, cleaning, and repair business in this environment, you need to apply the right combination of preparation, strategy and common sense.
Selling a Tiles Refinishing, Cleaning, & Repair Business to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based tiles refinishing, cleaning, and repair business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Tapping Into Business Networks
Today's tiles refinishing, cleaning, and repair business buyers can be found in a variety of locations. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Economic Considerations
When you sell a tiles refinishing, cleaning, and repair business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your tiles refinishing, cleaning, and repair business will be on the market as well as its sales price. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a tiles refinishing, cleaning, and repair business. A much better approach is to focus on the factors that always attract buyers and investors. In our experience, the most important factors in the sale of a tiles refinishing, cleaning, and repair business have little to do with the economy.
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