September 16, 2019  
 
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How to Sell to a Business

 

Selling a Showcase Manufacturers Business

Is the economy still a little shaky for a business sale? Sure it is. Yet showcase manufacturers businesses haven't heard the news and are reporting steady action on the business-for-sale market.

You need to get a good price for your showcase manufacturers business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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However, serious buyers also understand the value of a good showcase manufacturers business. So for showcase manufacturers business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.

Before You Sell

There is a lot of work that needs to be done before you're ready to sell your showcase manufacturers business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.

Maximizing Sales Price

There are no simple ways to sell a showcase manufacturers business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their showcase manufacturers businesses.

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