Exit Planning Techniques By Market
Selling a Fire Retardant Materials and Products Business
Planning and execution can dramatically influence the price you receive for your fire retardant materials and products business.
You won't find any magic formulas for selling a fire retardant materials and products business, especially while the market is struggling to overcome the perceptions created by a down economy.
If you're ready to move on, now is the right time to sell your fire retardant materials and products business.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Maintaining Objectivity
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. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Closing Strategies
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your fire retardant materials and products business. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young fire retardant materials and products business owner, they can be critical launching points for their ownership journey.
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