October 23, 2019  
 
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Selling a Plywood and Veneers Business

The decision to sell your plywood and veneers business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.

The decision to sell a plywood and veneers business is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
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If you're ready to move on, now is the right time to sell your plywood and veneers business.

Dealing with Tire Kickers

Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.

Timing the Market

Now may be the best time to sell a plywood and veneers business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on plywood and veneers businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.

Legal Considerations

It pays to invest in first-rate legal counsel when you sell a plywood and veneers business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.

More Exit Planning Articles

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

Marketing a Plywood and Veneers Business

Terms of Investment Banking Agreement

How To Choose An Investment Banker

Why Hire an Exit Planning Consultant


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