Tips to Improve Exit Planning
Selling a Jigs and Fixtures Business
You've heard the naysayers - now isn't the time to sell a jigs and fixtures business. But what they don't know is that many entrepreneurs see jigs and fixtures businesses as a smart business investment.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a jigs and fixtures business sale works.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your jigs and fixtures business.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your jigs and fixtures business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Business Assets
It's incumbent on buyers to commission their own appraisal of your jigs and fixtures business's inventory, equipment, and physical assets. But you'll need to commission your own appraisal before you put your jigs and fixtures business on the market to arm yourself with information for the negotiation phase. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your jigs and fixtures business.
Are You the Right Person to Sell Your 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 jigs and fixtures business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the jigs and fixtures business to gain an objective sense of fair market value.
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