Exit Planning Advice By Market
Selling an Air and Gas Compressors Wholesale and Manufacturers Business
There's a right way and a wrong way to sell an air and gas compressors wholesale or manufacturers business these days. We'll tell you how to keep your sale and your future plans on track.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your air and gas compressors wholesale or manufacturers business.
After the Sale
Due diligence has ended and you're ready to close on the sale of your air and gas compressors wholesale or manufacturers business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
It's rarely possible to sell an air and gas compressors wholesale or manufacturers business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare an air and gas compressors wholesale or manufacturers business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions air and gas compressors wholesale or manufacturers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. 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.
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