Niche Market Exit Planning Tips
Selling a Battery Charging and Monitoring Equipment Business
You've learned a lot during your tenure as a battery charging and monitoring equipment business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your battery charging and monitoring equipment business.
Average Timeframes
Hoping for a quick battery charging and monitoring equipment business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great battery charging and monitoring equipment business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in battery charging and monitoring equipment business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. 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.
Share this article
Additional Resources for Entrepreneurs