Niche Exit Planning Strategies
Selling a Dyers Industrial Business
You've learned a lot during your tenure as a dyers industrial business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
If you plan on selling your dyers industrial business quickly, prepare to be disappointed.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your dyers industrial business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In a dyers industrial business sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a dyers industrial business without outside assistance. The enlistment of a qualified business broker is an excellent first step. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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