June 3, 2020  
 
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Selling a Business

 

Selling a Glass Blowers Industrial Business

Business-for-sale markets are susceptible to a variety of influences. As you know, the glass blowers industrial business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a glass blowers industrial business in the current economic environment.

Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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Undaunted by economic conditions, many glass blowers industrial business sellers are achieving their sale goals through deliberate sale strategies.

Hiring an Attorney

There is no way around the requirement to hire professional legal assistance when you sell your glass blowers industrial business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.

Sale Preparation Timeframes

It's critical to properly plan for the sale ofa glass blowers industrial business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a glass blowers industrial business can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.

Closing Strategies

Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young glass blowers industrial business owner, they can be critical launching points for their ownership journey.

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We think you may find these additional resources to be of interest.

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