Business Exits By Industry
Selling a Ceramic Products Industrial Business
A good business is about more than dollars and sense. To make your ceramic products industrial business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful ceramic products industrial business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your ceramic products industrial 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.
Understanding Market Timing
Now may be the best time to sell a ceramic products industrial business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on ceramic products industrial businesses. When the economy recovers there will be more ceramic products industrial business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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