Selling an Enameling, Japanning, and Lacquering Business
Many business leaders say that now isn't the time to try to sell an enameling, japanning, and lacquering business. At Gaebler, we think it's a great time to sell an enameling, japanning, and lacquering business. Here's why . . ..
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an enameling, japanning, and lacquering business sale works.
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You'll always have an excuse for not putting your business on the market. With hard work and dedication, your enameling, japanning, and lacquering business can be sold at or above fair market value right now.
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great enameling, japanning, and lacquering business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Signs You're in Over Your Head
Many enameling, japanning, and lacquering business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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