Business Exit Planning
Selling a Metal Coating and Allied Services Business
Selling a metal coating and allied services business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
When the economy recovers, we expect to see a sudden influx of metal coating and allied services businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
There is no simple way to sell a business. But the most prepared metal coating and allied services business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Professional appraisers can use three methods to determine the value ofa metal coating and allied services business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. No two metal coating and allied services business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Preparing Family Members
Many sellers embarked on their metal coating and allied services business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a metal coating and allied services business has to include ample communication and shared decision-making.
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