Exit Planning Advice By Market
Selling an Advertising Sign Business
Think advertising sign business sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Selling an advertising sign business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
Many business owners don't know that advertising sign businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Selling Time
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their advertising sign business. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. On average, it takes a minimum of six months to prepare an advertising sign business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Adjusting Expectations
If you're smart, you entered your advertising sign business with a set of assumptions about what it would achieve. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your advertising sign business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your advertising sign business until the prospect has been qualified as a serious buyer.
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