Profitable Niche Market Exit Plans
Selling an Overhead Doors Business
Many business leaders say that now isn't the time to try to sell an overhead doors business. At Gaebler, we think it's a great time to sell an overhead doors business. Here's why . . ..
Intimidated by a sluggish economy, business buyers are more cautious than ever.
If your exit strategy involves selling an overhead doors business in this environment, you need to apply the right combination of preparation, strategy and common sense.
What to Expect in an Overhead Doors Business Sale
Prepare yourself to feel a broad range of emotions when you sell an overhead doors business. From hopefulness to remorse, it's all part of exiting of your company. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your overhead doors business is worth. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your overhead doors business on the market.
Leveraging Industry Connections
There are a lot of different places to look for overhead doors business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
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