How to Sell a Niche Market Business
Selling an Ergonomics Business
The decision to sell your ergonomics 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.
It's a fact: Successful business sales take time.
Although it takes hard work and dedication, if it's time to exit your ergonomics business there is a good chance you can sell it for a good price -- even in today's market.
Closing Strategies
Today's ergonomics 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young ergonomics business owner, they can be critical launching points for their ownership journey.
Preparing for What's Next
So you've decided to sell your ergonomics business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Sale Costs
In an ergonomics business sale, pricing is based on a number of factors, including the costs incurred during the sale. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of an ergonomics business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
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