Exit Planning Tips
Selling a Humidifiers Business
The decision to sell your humidifiers business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Dire economic forecasts have forced many humidifiers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
However, serious buyers also understand the value of a good humidifiers business. So for humidifiers business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your humidifiers business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some humidifiers business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions humidifiers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Second, a good business broker is a master at confidentiality locating humidifiers business sale prospects and guiding sellers through negotiations. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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