Exit Planning Techniques By Market
Selling a Fax Equipment and Supplies Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the fax equipment and supplies business industry has seen more than its share of fluctuations in business values. Here's what you'll need to know to sell a fax equipment and supplies business in the current economic environment.
Cutting corners never pays off, especially in the sale of a fax equipment and supplies business.
The good news is that ambitious entrepreneurs continue to see fax equipment and supplies businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Laying the Groundwork
Effective fax equipment and supplies business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a fax equipment and supplies business to the marketplace. Financial statements, appraisals, operations manuals and other documents lay the foundation for your fax equipment and supplies business sale, creating incentives for prospects to agree to a higher asking price.
Workforce Concerns
Business sellers face a dilemma when it comes to their employees. 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. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Signs You're in Over Your Head
Many fax equipment and supplies business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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