If you plan on selling your adhesive tapes business quickly, prepare to be disappointed.
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Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a adhesive tapes business.
Leveraging External Resources
Rarely, if ever, do owners sell an adhesive tapes business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. It's likely that non-serious buyers will want to know everything about your adhesive tapes business during their initial inquires. Avoid releasing details about your adhesive tapes business until you have established that they have the financial capacity to make a legitimate offer.
There is a lot of work that needs to be done before you're ready to sell your adhesive tapes business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. 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.
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