Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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A business sale is always a sophisticated transaction and if you aren't prepared for it, your shredded paper business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your shredded paper 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.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your shredded paper business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. 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 shredded paper business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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