Niche Exit Planning Tactics
Selling a Windchimes and Windsocks Business
Don't believe anyone who tells you it's easy to sell a windchimes and windsocks business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
The economy isn't the only thing that is uncertain these days. So are windchimes and windsocks business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Many business owners don't know that windchimes and windsocks businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Tips for Working with A Business Broker
Business brokers are professional business sellers. It's typical for windchimes and windsocks business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized windchimes and windsocks business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
Timing the Market
Now may be the best time to sell a windchimes and windsocks business. Although the economy is generally struggling, low interest rates make windchimes and windsocks businesses more attractive to entrepreneurs who want to get in the game. Sooner or later, rates will rise, increasing the risk for prospective buyers of windchimes and windsocks businesses. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Share this article
Additional Resources for Entrepreneurs