Business Exit Planning
Selling a Map Designers, Publishers, and Distributors Business
No one said selling your business in a depressed economy would be easy. But selling your map designers, publishers, and distributors business doesn't have to be as daunting as it sounds.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a map designers, publishers, and distributors business sale works.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to map designers, publishers, and distributors businesses that exhibit strong financials and potential for future growth.
Sale Preparation Timeframes
Preparing a map designers, publishers, and distributors business sale takes time. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a map designers, publishers, and distributors business can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
The Case for Confidentiality
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Successful sales walk a fine line between total confidentiality and aggressive promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
After the Sale
Due diligence has ended and you're ready to close on the sale of your map designers, publishers, and distributors business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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