Niche Exit Planning Strategies
Selling a Data Storage Media Business
You've heard the naysayers - now isn't the time to sell a data storage media business. But what they don't know is that many entrepreneurs see data storage media businesses as a smart business investment.
Are most buyers timid about buying a data storage media business in today's economic environment? You bet.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a data storage media business, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your data storage media business, your business brokers may or may not be willing to conduct negotiations for you. A solo negotiation is a surefire way to may a tough job even tougher. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Selling Time
Hoping for a quick data storage media 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. On average, it takes a minimum of six months to prepare a data storage media business for sale and many sellers spend a year or more positioning their business to command a higher price. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Sale Documents
We run into a lot of data storage media business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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