Niche Exit Planning Tactics
Selling a Waterjet Cutting Services Business
There are few things as intimidating as selling a business in a sluggish economy. But selling your waterjet cutting services business doesn't have to be as daunting as it sounds.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a waterjet cutting services business.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your waterjet cutting services business.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Tapping Into Business Networks
Today's waterjet cutting services business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Preparing Family Members
Many sellers embarked on their waterjet cutting services business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a waterjet cutting services business has to include ample communication and shared decision-making.
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