How to Sell a Niche Market Business
Selling an Electric Equipment Testing Business
A good business is about more than dollars and sense. To make your electric equipment testing business what it is today, you've had to fully invest yourself in its success. 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.
The buzz in the marketplace is that now isn't the right time to sell an electric equipment testing business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
But sooner or later, all good things must come to an end. As a consequence, you have a substantial stake in knowing how to receive maximum price for your electric equipment testing business.
Leveraging Industry Connections
Today's electric equipment testing business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Before You Sell
The upfront time you investment in the sale of your electric equipment testing business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized electric equipment testing business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your electric equipment testing business, expect to be asked to finance a substantial part of the sale price.
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