Niche Exit Planning Tactics
Selling a Water Heaters Business
A good business is about more than dollars and sense. To make your water heaters business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your water heaters business can be sold at or above fair market value right now.
Signs You're in Over Your Head
Many water heaters 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. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your water heaters business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Advertising Your Sale
Profitable water heaters business sales incorporate comprehensive advertising plans. But if you think advertising your water heaters business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. The best way to advertise a water heaters business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Selling a Water Heaters Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your water heaters business, a sale to an employee is probably not a possibility.
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