Advice on Niche Market Exit Planning
Selling a Timing Devices Business
You've invested time, effort, and creativity into building your timing devices business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
When it comes to selling a timing devices business, there are no shortcuts to success.
But the good news is that there is still demand for timing devices businesses that present well and offer solid earning potential.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a timing devices business that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Leveraging Industry Connections
There are a lot of different places to look for timing devices business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Finding Prospects
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. 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. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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