How to Sell a Niche Market Business
Selling an Etching and Engraving Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the etching and engraving business market has been exceptionally volatile. Here's what you'll need to know to sell an etching and engraving business during challenging economic times.
You won't find any magic formulas for selling an etching and engraving business, especially while the market is struggling to overcome the perceptions created by a down economy.
To achieve your goals, you'll need to know the market as well as key business selling techniques. But for business sellers, the process begins with having the right mental attitude.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your etching and engraving business's real assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your etching and engraving business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your etching and engraving business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your etching and engraving business is worth. Although it isn't easy, you can mitigate the emotional impact of an etching and engraving business sale by setting realistic expectations before you list your business.
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