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

Resources for Entrepreneurs

 

Selling a Company

 

Selling an Ear Molds Business

With the economy limping along, many ear molds business owners are hesitant to put their businesses on the market. At Gaebler, we think it's a great time to sell an ear molds business. Here's why . . ..

Economic data is scary stuff for small business owners. But quarterly data dumps don't impact ear molds business sales nearly as much as sale strategy.
(article continues below)

However, serious buyers also understand the value of a good ear molds business. So for ear molds business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

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. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.

Working with a Professional Accountant

Accountants lay the financial groundwork for a business sale. Before your ear molds business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.

Identifying Serious Buyers

Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.

More Info on Business Transitions and Related Articles

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

How to Sell a Business

Marketing an Ear Molds Business

How Much Is My Business Worth?


Conversation Board

Still have questions about selling an ear molds business? Ask away and we'll do our best to get you a timely reply. We also welcome any tips or advice you'd care to share with others.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Hoping to Open an Ear Molds Business?

If starting an ear molds business is on your agenda, these guides will help you get started:

How to Start an Ear Molds Business

Do You Market Products or Services to Ear Molds Businesses?

If you consider ear molds businesses to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:

Selling to Ear Molds Businesses

Mailing Lists for Ear Molds Businesses

More Guides on Selling a Business

If you are looking for exit plan advice for a different kind of business, try our directory of exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary