In a down economy, many machine knives business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of machine knives businesses that are actually for sale.
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Too often machine knives business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
It's rarely possible to sell a machine knives business in a month or two. 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. Before you can list your machine knives business, you'll need to invest as much as a year in preparing it for prospective buyers. 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.
In the current marketplace, seller concessions can make the difference between a business sale and a machine knives business that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the machine knives business to gain an objective sense of fair market value.
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