You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a webbing business.
(article continues below)
There is no simple way to sell a business. But the most prepared webbing business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some webbing business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. 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.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your webbing business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your webbing business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Given your interest in exit planning and in webbing businesses, you might find these additional resources to be of interest.
If starting a webbing business is on your agenda, these helpul resources may be just what you've been looking for:
If you want information on how to sell to webbing businesses, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.