You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a commercial printing business.
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Many commercial printing business sellers fail to receive fair market value for their businesses. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. Although you might think you're ready to exit your business, selling and separating from a commercial printing business scan stir up a range of emotions. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Even if you hire a business broker to facilitate the sale of your commercial printing 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.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a commercial printing business sale. Most commercial printing business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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