Exit Planning Techniques By Market
Selling a Forging Equipment Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the forging equipment business marketplace has been a shaky environment for sellers. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a forging equipment business during challenging economic times.
In a down economy, many forging equipment business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of forging equipment businesses that are actually for sale.
If you're ready to move on, now is the right time to sell your forging equipment business.
Average Timeframes
Hoping for a quick forging equipment business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a forging equipment 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.
Tapping Into Business Networks
Today's forging equipment business buyers can be found in a variety of locations. 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. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. 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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