Niche Exit Planning Strategies
Selling a Dishwashing Compounds Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your dishwashing compounds business.
In a down economy, many dishwashing compounds business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of dishwashing compounds businesses that are actually for sale.
Many dishwashing compounds business owners 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.
Average Preparation Time
It's critical to properly plan for the sale ofa dishwashing compounds business. For starters, the financials need to demonstrate a track record of profitability and growth. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a dishwashing compounds business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
Broker vs. No Broker
Anyone who has ever sold a dishwashing compounds business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your dishwashing compounds business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your dishwashing compounds business on BizBuySell.com and other popular online business-for-sale listing sites.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your dishwashing compounds business. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your dishwashing compounds business until the prospect has been qualified as a serious buyer.
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