Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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However, serious buyers also understand the value of a good fiberglass and plastic tanks business. So for fiberglass and plastic tanks business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions fiberglass and plastic tanks business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. If due diligence drags on too long, your broker may need to intervene.
Signs You're in Over Your Head
The fiberglass and plastic tanks business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. But for every successful unassisted sale, several other fiberglass and plastic tanks businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. 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.
There is a lot of work that needs to be done before you're ready to sell your fiberglass and plastic tanks business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
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