Business Exit Planning
Selling a Magnets and Magnetic Devices Business
With the economy struggling to rebound, the shadow inventory of magnets and magnetic devices businesses in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful magnets and magnetic devices business
In any economy, there is a right way and a wrong way to sell a business.
However, serious buyers also understand the value of a good magnets and magnetic devices business. So for magnets and magnetic devices business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your magnets and magnetic devices business, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Broker vs. No Broker
When selling a magnets and magnetic devices business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your magnets and magnetic devices business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some magnets and magnetic devices 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.
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