Cutting corners never pays off, especially in the sale of a laminated structural products business.
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The good news is that ambitious entrepreneurs continue to see laminated structural products businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful laminated structural products business sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a laminated structural products business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
In a laminated structural products business sale, pricing is based on a number of factors, including the costs incurred during the sale. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Given your interest in exit planning and in laminated structural products businesses, you might find these additional resources to be of interest.
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