You need to get a good price for your library equipment and supplies business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a library equipment and supplies business. We'll tell you what you need to know to achieve a successful sale outcome
Working with Appraisers
An experienced appraiser is part and parcel of a successful library equipment and supplies business sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. 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.
Preparing Family Members
You're ready to sell your library equipment and supplies business, but is your family prepared for the transition? Whether you realize it or not, your library equipment and supplies business has been an important part of your family life. Unless everyone is prepared for it, the sale could have a devastating effect on your family. The decision to sell a library equipment and supplies business has to include ample communication and shared decision-making.
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized library equipment and supplies business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
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