How to Sell a Niche Market Business
Selling an Electronics Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your electronics business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Cutting corners never pays off, especially in the sale of an electronics business.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your electronics business can be sold at or above fair market value right now.
Sale Documents
In an electronics business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Turning the Tables: 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. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Timing the Market
Now may be the best time to sell an electronics business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on electronics businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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