Like it or not, a lathes business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. But have you considered how your customers, vendors and employees will handle the sale?
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Despite the conventional wisdom, we believe current economic conditions are right for selling a lathes business. With the right information and strategy, you could be well on your way to a successful sale
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. A professional audit can ease buyer concerns and amp up the value of your financial presentation. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Advertising Your Sale
Successful lathes business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing lathes business sales while maintaining the confidentiality that is critical to your business.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a lathes business sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
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