Business Exits By Industry
Selling a Cable Detection, Installation, and Splicing Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the cable detection, installation, and splicing business marketplace has been a shaky environment for sellers. Here's what you'll need to know to sell a cable detection, installation, and splicing business during challenging economic times.
It's a fact: Successful business sales take time.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your cable detection, installation, and splicing business.
Realistic Expectations
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. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful cable detection, installation, and splicing business sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. If you aren't sure what to look for in a serious buyer, ask your broker for advice. It's likely that non-serious buyers will want to know everything about your cable detection, installation, and splicing business during their initial inquires. Avoid releasing details about your cable detection, installation, and splicing business until you have established that they have the financial capacity to make a legitimate offer.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your cable detection, installation, and splicing business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
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