November 27, 2020  
 
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Selling a Bookbinders' Equipment and Supplies Business

The decision to sell your bookbinders' equipment and supplies 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.

Dire economic forecasts have forced many bookbinders' equipment and supplies business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Many business owners don't know that bookbinders' equipment and supplies businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Finding Prospects

Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

Preparing Your Employees

Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the bookbinders' equipment and supplies business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.

The Best Person to Sell Your Bookbinders' Equipment & Supplies Business

An unassisted business sale is a double-edged sword. Few people know your business as well as you do. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful bookbinders' equipment and supplies business sale.

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