Sell a Business Tips
Selling a Slot Machines Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet slot machines businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
But at Gaebler, we see slot machines businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
When to End Negotiations
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. In a slot machines business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Sale Costs
In a slot machines business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a slot machines business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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