Exit Planning Techniques By Market
Selling a Fin Coils Business
There are few things as intimidating as selling a business in a sluggish economy. But selling your fin coils business doesn't have to be as daunting as it sounds.
When it comes to selling a fin coils business, there are no shortcuts to success.
Despite the conventional wisdom, we believe current economic conditions are right for selling a fin coils business. We'll tell you what you need to know to achieve a successful sale outcome
Laying the Groundwork
Effective fin coils business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a fin coils business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your fin coils business on the market.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your fin coils business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your fin coils business until the prospect has been qualified as a serious buyer.
Sale Costs
In a fin coils business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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