Smart Exit Planning Strategies for Niche Markets
Selling a Grinding Services Business
You've heard the naysayers - now isn't the time to sell a grinding services business. But what they don't know is that many entrepreneurs see grinding services businesses as a smart business investment.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
If you're ready to move on, now is the right time to sell your grinding services business.
Family Issues
Since your business was a family affair, your family members should also be involved in its sale Whether you realize it or not, your grinding services business has been an important part of your family life. The sale of the business will likely result in new family dynamics. Subsequently, selling a grinding services business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Equipment and Inventory Concerns
Buyers typically perform an independent appraisal of your grinding services business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your grinding services business.
Should I Hire a Business Broker?
When selling a grinding services business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your grinding services business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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