May 28, 2020 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

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Selling a Company


Selling a Time Locks Business

Planning and execution can dramatically influence the price you receive for your time locks business.

An assortment of hurdles and obstacles stand between you and the successful sale of your time locks business.
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Most time locks businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.

Why Confidentiality Matters

Highly publicized time locks business sales are risky time locks businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Successful sales walk a fine line between total confidentiality and aggressive promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.

Sale Costs

The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.

When Is the Right Time to Sell?

When is it the right time to sell your time locks business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling time locks business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the time locks business marketplace. The inventory of what we consider to be quality time locks businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

More Exit Planning Articles

Given your interest in exit planning and in time locks businesses, you might find these additional resources to be of interest.

Marketing a Time Locks Business

Renewing Leases Prior to Selling a Business

Conversation Board

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

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