May 28, 2020  
 
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Selling a Company

 

Selling an Electric Connectors Business

The sale of your electric connectors business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.

Selling a electric connectors business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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Most electric connectors businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.

Buyer Concessions

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.

Should I Hire a Business Broker?

When selling an electric connectors business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your electric connectors business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered electric connectors business sale.

Timing the Market

Timing is everything when it comes to selling an electric connectors business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on electric connectors businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of electric connectors businesses. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.

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