Selling a Business Advice
Selling an Ignition Interlock Devices Business
Is the economy still a little shaky for a business sale? Sure it is. Yet ignition interlock devices businesses haven't been deterred. In fact, we think this economy is a ripe environment for a ignition interlock devices business sale.
The economy isn't the only thing that is uncertain these days. So are ignition interlock devices business buyers, many of whom are waiting to pull the trigger on their next acquisition.
If your exit strategy involves selling an ignition interlock devices business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your ignition interlock devices business, it's likely that you will be the front line negotiator. A solo negotiation is a surefire way to may a tough job even tougher. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
When the Sale Goes Off-Course
It's not uncommon for the owners of small ignition interlock devices businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their ignition interlock devices businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Pre-Sale Checklist
The upfront time you investment in the sale of your ignition interlock devices business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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