Exit Planning Techniques By Market
Selling a Foundries Business
Market perceptions play a role in your ability to sell a foundries business. Yet great values are always received well in the business-for-sale marketplace. All it takes is a strategy to identify solid prospects and convert them to buyers.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a foundries business.
The economy hasn't squashed the market for foundries businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Advantages of Hiring a Broker
Brokers give foundries business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Laying the Groundwork
Effective foundries business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a foundries business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium foundries business opportunity.
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