Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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Too often pressure sensitive tapes business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Signs You're in Over Your Head
Many pressure sensitive tapes business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your pressure sensitive tapes business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Preparing for What's Next
The decision to sell your pressure sensitive tapes business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood pressure sensitive tapes business sellers with questions and requests, often to the point of becoming a nuisance. The questions pressure sensitive tapes business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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