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Selling a Laboratory Furniture Business
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But laboratory furniture businesses haven't been deterred. In fact, we think this economy is a ripe environment for a laboratory furniture business sale.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
If you're ready to move on, now is the right time to sell your laboratory furniture business.
Business Valuation
Professional appraisers can use three methods to determine the value ofa laboratory furniture business: The income method, the asset method and the market method. The income method determines value based on the amount of income the business is expected to generate. The asset method, on the other hand, is based on the value of tangible and non-tangible assets (e.g. brands and trademarks). Using recent laboratory furniture business sales as its foundation, the market method factors market conditions into the valuation process. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Signs You're in Over Your Head
Many laboratory furniture business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Finding Prospects
Whether you know it or not, prospective buyers for your laboratory furniture 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. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
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