You need to get a good price for your architectural model makers business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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The good news is that ambitious entrepreneurs continue to see architectural model makers businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Sale Preparation Timeframes
There are no effective shortcuts for selling an architectural model makers business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a architectural model makers business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Sweetening the Deal
Today's architectural model makers 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 architectural model makers business concessions, consult with a professional to learn how you can build incentives into your deal.
As your architectural model makers businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
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