September 28, 2020  
 
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How to Sell to a Business

 

Selling a Metal Polishing, Buffing, and Plating Business

There are few things as intimidating as selling a business in a sluggish economy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.

Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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At Gaebler, we're seeing metal polishing, buffing, and plating business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.

How to Skillfully Address Buyer Concerns

Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.

Advantages of Hiring a Broker

Brokers give metal polishing, buffing, and plating business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. 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.

Preparing Family Members

Many sellers embarked on their metal polishing, buffing, and plating 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. Subsequently, selling a metal polishing, buffing, and plating business has to include ample communication and shared decision-making.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Marketing a Metal Polishing, Buffing, and Plating Business

Five Tips for Maximizing Your Business Sale Price

Why Most Businesses Do Not Have Exit Plans

Renewing Leases Prior to Selling a Business


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