Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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Too often bearings wholesale and manufacturers business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Leveraging Seller Concessions
It's becoming more difficult to sell a bearings wholesale and manufacturers business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. It's typical for bearings wholesale and manufacturers business to rely on brokers to reduce market time and increase the final sales price. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your bearings wholesale and manufacturers business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Preparing Family Members
You're ready to sell your bearings wholesale and manufacturers business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a bearings wholesale and manufacturers business has to include ample communication and shared decision-making.
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