Business Exit Planning
Selling a Magnetic Inspection Business
A good business is about more than dollars and sense. To make your magnetic inspection business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a magnetic inspection business. We'll tell you what you need to know to achieve a successful sale outcome
Current Market Conditions
At first glance, today's market would seem to be a hostile place for magnetic inspection business sellers. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. Like it or not, the time to sell your magnetic inspection business may be right now, as long as your willing to adequately prepare your business for the marketplace.
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your magnetic inspection business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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