Exit Planning Strategies
Selling a Vibration Control and Measurement Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the vibration control and measurement business marketplace has been a shaky environment for sellers. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a vibration control and measurement business during challenging economic times.
Personal and professional concerns surround the sale of a vibration control and measurement business. In our experience, a common owner concern is how the sale will affect customers and employees.
Although it takes hard work and dedication, if it's time to exit your vibration control and measurement business there is a good chance you can sell it for a good price -- even in today's market.
Selling a Vibration Control & Measurement Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based vibration control and measurement business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your vibration control and measurement business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Preparing Family Members
Many sellers embarked on their vibration control and measurement business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a vibration control and measurement business has to include ample communication and shared decision-making.
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