It's a fact: Successful business sales take time.
(article continues below)
Although it takes hard work and dedication, if it's time to exit your ergonomics business there is a good chance you can sell it for a good price -- even in today's market.
Today's ergonomics business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young ergonomics business owner, they can be critical launching points for their ownership journey.
Preparing for What's Next
So you've decided to sell your ergonomics business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
In an ergonomics business sale, pricing is based on a number of factors, including the costs incurred during the sale. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of an ergonomics business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Given your interest in exit planning and in ergonomics businesses, you might find these additional resources to be of interest.
If you plan on opening an ergonomics business, these guides will help you get started:
If you consider ergonomics businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.