Optimizing Business Exits
Selling a Rubber Engravers Business
You've learned a lot during your tenure as a rubber engravers business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
You're optimistic about the economy and so are we. Now the challenge is to convert business buyers who may have a more skeptical outlook.
The good news is that ambitious entrepreneurs continue to see rubber engravers businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
As your rubber engravers businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your rubber engravers business. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your rubber engravers business during their initial inquires. Avoid releasing details about your rubber engravers business until you have established that they have the financial capacity to make a legitimate offer.
What About Market Conditions?
No one plans to sell a rubber engravers business in a down economy. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your rubber engravers business as attractive as possible so to buyers right now.
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