November 14, 2019  
 
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Selling a Business

 

Selling a Lie Detectors Business

Planning and execution can dramatically influence the price you receive for your lie detectors business.

You need to get a good price for your lie detectors business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Qualified buyers are constantly looking for attractive lie detectors businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.

Seller Financing

Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. As you prepare for the sale of your lie detectors business, expect to be asked to finance a substantial part of the sale price.

Sale Documents

In a lie detectors business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.

Pre-Sale Checklist

There is a lot of work that needs to be done before you're ready to sell your lie detectors 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. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

How to Sell a Business

Marketing a Lie Detectors Business

Why Most Businesses Do Not Have Exit Plans


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What challenges have you experienced in selling a lie detectors business or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


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