Waiting for better economic times to sell your company? That's a common anthem in the small business community.
(article continues below)
To sell a communications equipment and supplies business in this environment, you need to apply the right combination of preparation, strategy and common sense.
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your communications equipment and supplies 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. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your communications equipment and supplies business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Selling a Communications Equipment & Supplies Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your communications equipment and supplies business, a sale to an employee is probably not a possibility.
Preparing for What's Next
The decision to sell your communications equipment and supplies 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. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Given your interest in exit planning and in communications equipment and supplies businesses, you might find these additional resources to be of interest.
If starting a communications equipment and supplies business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider communications equipment and supplies businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our alphabetical directory of exit planning guides below.