Optimizing Business Exits
Selling a Rubber Bands Business
A good business is about more than dollars and sense. To make your rubber bands business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
The economy isn't the only thing that is uncertain these days. So are rubber bands business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Most rubber bands businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your rubber bands business until the prospect has been qualified as a serious buyer.
Timing the Market
Now may be the best time to sell a rubber bands business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on rubber bands businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the rubber bands business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your rubber bands business on BizBuySell.com and other online business-for-sale sites.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs