Sell a Business Tips
Selling a Scientific Instruments and Supplies Dealers Business
Most businesses are susceptible to economic conditions and scientific instruments and supplies dealers businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
In any economy, there is a right way and a wrong way to sell a business.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a scientific instruments and supplies dealers business.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions scientific instruments and supplies dealers business 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.
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Timing the Market
Now may be the best time to sell a scientific instruments and supplies dealers business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on scientific instruments and supplies dealers businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
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