Advice on Niche Market Exit Planning
Selling a Turbines Service and Repair Business
The decision to sell your turbines service and repair business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your turbines service and repair business can attract buyers who recognize its potential.
Most turbines service and repair businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a turbines service and repair business scan stir up a range of emotions. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
Sweetening the Deal
Today's turbines service and repair business buyers expect sellers to offer concessions to persuade them to close the deal. 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. If you aren't familiar with typical turbines service and repair business concessions, consult with a professional to learn how you can build incentives into your deal.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your turbines service and repair business. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
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