We hear it all the time: "I'm waiting until the economy recovers to list my business."
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The economy hasn't squashed the market for export representatives businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your export representatives business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Good business brokers are adept at separating serious buyers from the rest of the pack. It's likely that non-serious buyers will want to know everything about your export representatives business during their initial inquires. Avoid releasing details about your export representatives business until you have established that they have the financial capacity to make a legitimate offer.
Maximizing Sales Price
There are no simple ways to sell an export representatives business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
When Is the Right Time to Sell?
When is it the right time to sell your export representatives business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising export representatives business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the export representatives business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
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