Sell a Business Tips
Selling a Screw Machine Products Business
Selling a screw machine products business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
You'll always have an excuse for not putting your business on the market. Selling a screw machine products business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Signs You're in Over Your Head
The screw machine products business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. Hire a broker and conduct a professional appraisal ASAP.
Selling Time
It's rarely possible to sell a screw machine products business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your screw machine products business, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive screw machine products business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Sweetening the Deal
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in screw machine products business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
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