The buzz in the marketplace is that now isn't the right time to sell a bookbinders' equipment and supplies service and repair business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
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Qualified buyers are constantly looking for attractive bookbinders' equipment and supplies service and repair businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Leveraging Industry Connections
These days, bookbinders' equipment and supplies service and repair business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based bookbinders' equipment and supplies service and repair business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
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