Sell a Business Tips
Selling a Sinks Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, sinks businesses haven't heard the news and are reporting steady action on the business-for-sale market.
The economy isn't the only thing that is uncertain these days. So are sinks business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Undaunted by economic conditions, many sinks business sellers are achieving their sale goals through deliberate sale strategies.
It's incumbent on buyers to commission their own appraisal of your sinks business's physical assets. But you'll need to commission your own appraisal before you put your sinks business on the market to arm yourself with information for the negotiation phase. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your sinks business.
Advertising Your Sale
Successful sinks business sales listings are intentionally promoted to the right prospects. But if you think advertising your sinks business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing sinks business sales while maintaining the confidentiality that is critical to your business.
When the Sale Goes Off-Course
It's not uncommon for the owners of small sinks businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their sinks businesses unassisted. But for every successful unassisted sale, several other sinks businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. 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.
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