Dire economic forecasts have forced many fire extinguisher company sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Does that mean selling your fire extinguisher company will be a piece of cake? No -- but you might be surprised to learn that the fire extinguisher businesses that are selling these days are finding success though simple, common sense selling strategies.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based fire extinguisher company sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
There is a lot of work that needs to be done before you're ready to sell your fire extinguisher company. 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.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful fire extinguisher company sales. Take our word for it -- fire extinguisher businesses are unique businesses and you need a broker who understands how to properly market your fire extinguisher company to prospective buyers. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling fire extinguisher businesses.
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