Niche Exit Planning Tactics
Selling a Windows and Parts Dealers Business
Is the economy still a little shaky for a business sale? Sure it is. Yet windows and parts dealers businesses haven't heard the news and are reporting steady action on the business-for-sale market.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a windows and parts dealers business, capital restrictions are holding them back.
The economy hasn't squashed the market for windows and parts dealers businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions windows and parts dealers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Family Issues
Many sellers embarked on their windows and parts dealers 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. To keep the family intact, the sale of a windows and parts dealers business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Sale Documents
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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