Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
(article continues below)
Nothing lasts forever and you will ultimately be faced with the task of selling your company. As a consequence, you have a substantial stake in knowing how to receive maximum price for your diving equipment and supplies business.
Business sellers walk a fine line when it comes to preparing their employees for a sale. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
After the Sale
The way you exit your diving equipment and supplies business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
When you sell a diving equipment and supplies business, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. The truth is that perfect market conditions may never materialize. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
Given your interest in exit planning and in diving equipment and supplies businesses, you might find these additional resources to be of interest.
If you plan on opening a diving equipment and supplies business, these helpul resources may be just what you've been looking for:
If you consider diving equipment and supplies businesses to be sales prospects, there's more applicable information for you elsewhere 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 directory of exit planning guides below.