November 18, 2019  
 
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Selling a Company

 

Selling a Laboratory Equipment Service and Repair Business

Business-for-sale markets are susceptible to a variety of influences. As you know, the laboratory equipment service and repair 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 laboratory equipment service and repair business in the current economic environment.

The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a laboratory equipment service and repair business.
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For sellers who are willing to perform adequate sale preparation, the numbers make laboratory equipment service and repair businesses a solid investment for qualified buyers in the business-for-sale marketplace.

Workforce Concerns

As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful laboratory equipment service and repair business sale. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the laboratory equipment service and repair business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.

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 laboratory equipment service and repair business. 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. Before you can list your laboratory equipment service and repair business, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive laboratory equipment service and repair business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.

Working with Appraisers

An experienced appraiser is part and parcel of a successful laboratory equipment service and repair business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.

More Exit Planning Articles

Given your interest in exit planning and in laboratory equipment service and repair businesses, you might find these additional resources to be of interest.

Marketing a Laboratory Equipment Service and Repair Business

Role of Location In Selling a Business

How Much Is My Business Worth?

How to Sell a Business


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