November 20, 2019  
 
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Selling a Business

 

Selling a Lubricating Oils Distributors and Manufacturers Business

Your lubricating oils distributors and manufacturers business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. Now it's time to put that same kind of focus into selling it.

Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your lubricating oils distributors and manufacturers business can attract buyers who recognize its potential.
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Many lubricating oils distributors and manufacturers business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.

Finding Prospects

Whether you know it or not, prospective buyers for your lubricating oils distributors and manufacturers business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some lubricating oils distributors and manufacturers business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

Equipment and Inventory Concerns

It's incumbent on buyers to commission their own appraisal of your lubricating oils distributors and manufacturers business's real assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

Signs You're in Over Your Head

Many lubricating oils distributors and manufacturers business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other lubricating oils distributors and manufacturers businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your lubricating oils distributors and manufacturers business is priced out of the market. If that occurs, it's time to bring in the professionals to get your sale back on track.

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