September 26, 2020  
 
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Selling a Business

 

Selling a Control Panels Business

Planning and execution can dramatically influence the price you receive for your control panels business.

The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a control panels business.
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Market timing is a constantly moving target. That's why we think it's important for control panels business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your control panels business to today's buyers.

Current Market Conditions

Today's control panels business sellers face an intimidating economic landscape. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your control panels business as attractive as possible so to buyers right now.

Sweetening the Deal

Today's control panels business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. If you aren't familiar with typical control panels business concessions, consult with a professional to learn how you can build incentives into your deal.

Leveraging Industry Connections

Today's control panels business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. More focused prospects are typically found within industry networks. 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. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.

More Exit Planning Articles

Given your interest in exit planning and in control panels businesses, you might find these additional resources to be of interest.

Marketing a Control Panels Business

How Much Is My Business Worth?

Selling to Competitors

Entrepreneurial Exit Strategies


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