Niche Exit Planning Tactics
Selling a Water Softening and Conditioning Equipment, Service, and Supplies Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet water softening and conditioning equipment, service, and supplies businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your water softening and conditioning equipment, service, and supplies business.
When the Sale Goes Off-Course
Many water softening and conditioning equipment, service, and supplies 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. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your water softening and conditioning equipment, service, and supplies business until the prospect has been qualified as a serious buyer.
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