Exit Planning Strategies
Selling a Vinyl Repair Business
The decision to sell your vinyl repair business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
But at Gaebler, we see vinyl repair businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
When Is the Right Time to Sell?
When is it the right time to sell your vinyl repair business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling vinyl repair business owners to wait for a better economy to put their business on the market. We aren't nearly as pessimistic about the vinyl repair business marketplace. The inventory of what we consider to be quality vinyl repair businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Tips for Working with A Business Broker
Business brokers are professional business sellers. It's typical for vinyl repair business to rely on brokers to reduce market time and increase the final sales price. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your vinyl repair business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your vinyl repair business on BizBuySell.com and other online business-for-sale sites.
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