Business Exit Planning
Selling a Model Makers Business
A lot can go wrong during the sale of a model makers business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Personal and professional concerns surround the sale of a model makers business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your model makers business a success.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a model makers business.
Promoting a model makers business Sale
Successful model makers business sales begin with a carefully planned advertising and promotional strategies. But if you think advertising your model makers business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing model makers business sales while maintaining the confidentiality that is critical to your business.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your model makers business. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young model makers business owner, they can be critical launching points for their ownership journey.
Broker vs. No Broker
When selling a model makers 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 model makers business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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