Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an imaging service bureau sale works.
(article continues below)
The economy hasn't squashed the market for imaging services bureaus. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
When the Sale Goes Off-Course
It's not uncommon for the owners of small imaging services bureaus to adopt a go-it-alone sale strategy. Plenty of owners sell their imaging services bureaus unassisted. 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.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your imaging service bureau. The bad news is that they will lack the financial capacity to close the deal. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your imaging service bureau during their initial inquires. Avoid releasing details about your imaging service bureau until you have established that they have the financial capacity to make a legitimate offer.
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Ready to learn more? You may find these additional resources to be of interest.
If you plan on opening an imaging service bureau, these helpul resources may be just what you've been looking for:
If you consider imaging services bureaus to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are eager to get business succession tips for a different industry, please browse our directory of exit planning guides below.