Business Exit Planning
Selling a Metal Cleaning and Pickling Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, metal cleaning and pickling businesses haven't heard the news and are reporting steady action on the business-for-sale market.
In any economy, there is a right way and a wrong way to sell a business.
Despite the conventional wisdom, we believe current economic conditions are right for selling a metal cleaning and pickling business. We'll tell you what you need to know to achieve a successful sale outcome
Pre-Sale Checklist
The pre-sale checklist for a metal cleaning and pickling business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Broker vs. No Broker
When selling a metal cleaning and pickling business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your metal cleaning and pickling business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered metal cleaning and pickling business sale.
Business Assets
It's incumbent on buyers to commission their own appraisal of your metal cleaning and pickling business's real assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
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