Niche Market Exit Planning Tips
Selling a Biofeedback Equipment Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a biofeedback equipment business in today's market.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a biofeedback equipment business. We'll tell you what you need to know to achieve a successful sale outcome
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your biofeedback equipment business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Moving On
The decision to sell your biofeedback equipment business can't be made without adequate consideration of what will happen after the sale. 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. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Closing Strategies
Today's biofeedback equipment 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 biofeedback equipment business owner, they can be critical launching points for their ownership journey.
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