Niche Exit Planning Tactics
Selling a Window Installation Business
Is the economy still a little shaky for a business sale? Sure it is. Yet window installation businesses continue to sell at a brisk pace, regardless of the economy.
Personal and professional concerns surround the sale of a window installation business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your window installation business a success.
However, serious buyers also understand the value of a good window installation business. So for window installation business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Timing the Market
Now may be the best time to sell a window installation business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on window installation businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. 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.
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