Niche Exit Planning Tactics
Selling a Whitewashing Business
A lot can go wrong during the sale of a whitewashing business even if the seller has previous business sales experience. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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 whitewashing business.
Maintaining Objectivity
Emotions run high during the sale of a whitewashing business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Valuation Methods
Professional appraisers can use three methods to determine the value ofa whitewashing business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Using recent whitewashing business sales as its foundation, the market method factors market conditions into the valuation process. All three methods have multiple variations and it's not uncommon for appraisers to use a combination of the three to determine the value of your business. To drive up your sale price, position your whitewashing business by improving variables like assets, revenue and profitability during the years leading up to a sale.
Handling Unexpected Outcomes
When you made the decision to sell your whitewashing business, you had a specific set of outcomes in mind. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your whitewashing business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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