February 15, 2020  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Selling a Company

 

Selling a Safety Engineering Firm

A lot can go wrong during the sale of a safety engineering firm 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.

The economy isn't the only thing that is uncertain these days. So are safety engineering firm buyers, many of whom are waiting to pull the trigger on their next acquisition.
(article continues below)

Despite the overall mood of the marketplace, safety engineering firms are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.

When the Sale Goes Off-Course

It's not uncommon for the owners of small safety engineering firms to adopt a go-it-alone sale strategy. Plenty of owners sell their safety engineering firms unassisted. But for every successful unassisted sale, several other safety engineering firms sell below market value or languish on the market for years without attracting the interest of qualified buyers. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. 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. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for safety engineering firms than other buyers.

How to Skillfully Address Buyer Concerns

Buyers can present challenges, especially during the due diligence stage. The questions safety engineering firm ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Role of Location In Selling a Business

Marketing a Safety Engineering Firm

What Does a Business Broker Charge?


Conversation Board

What challenges have you experienced in selling a safety engineering firm or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Need Information on Starting a Safety Engineering Firm?

If starting a safety engineering firm is on your agenda, these guides will help you get started:

Opening a Safety Engineering Firm

Looking for Safety Engineering Firm Customers?

If you consider safety engineering firms to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:

Selling to Safety Engineering Firms

Mailing Lists for Safety Engineering Firms

More Information on How to Sell a Niche Company

If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary