Exit Planning Tips
Selling a Hinges Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your hinges business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a hinges business sale works.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a hinges business.
Buyer Concessions
Most hinges business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Average Timeframes
Hoping for a quick hinges business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a hinges business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the hinges business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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