How to Sell a Niche Market Business
Selling an Electric Fans Business
A good business is about more than dollars and sense. To make your electric fans business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an electric fans business sale works.
The business-for-sale market is extremely dynamic. That's why we think it's important for electric fans business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your electric fans business to today's buyers.
Seller Financing
Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized electric fans 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.
The Best Person to Sell Your Electric Fans Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your electric fans business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the electric fans business to gain an objective sense of fair market value.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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