Business Exit Planning
Selling a Magnetic Signs Business
Despite the pessimistic mood of many sellers, your magnetic signs business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Despite your best intentions, great business sales don't happen overnight.
Undaunted by economic conditions, many magnetic signs business sellers are achieving their sale goals through deliberate sale strategies.
The Best Person to Sell Your Magnetic Signs Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your magnetic signs business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the magnetic signs business to gain an objective sense of fair market value.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based magnetic signs business sale can be more complicated than selling to a stranger. In fact, selling your magnetic signs business to a family member can quickly become a no-win proposition. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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