Optimizing Business Exits
Selling a Radiation Testing and Inspection Business
There is a lot of confusion about the best way to sell a radiation testing and inspection business even if the seller has previous business sales experience. We'll tell you how to keep your sale and your future plans on track.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a radiation testing and inspection business.
Many business owners don't know that radiation testing and inspection businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful radiation testing and inspection business sales. Take our word for it -- radiation testing and inspection businesses are unique businesses and you need a broker who understands how to properly market your radiation testing and inspection business to prospective buyers. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the radiation testing and inspection business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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