Niche Exit Planning Tactics
Selling a Wire Working Business
It's a misconception that no one is buying wire working businesses these days. Savvy entrepreneurs see wire working business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
Selling a wire working business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
The economy hasn't squashed the market for wire working businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Timing the Market
Timing is everything when it comes to selling a wire working business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on wire working businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a wire working business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a wire working business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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