Business Exit Planning
Selling a Maps and Globes Business
It's a misconception that no one is buying maps and globes businesses these days. Savvy entrepreneurs see maps and globes business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Too often maps and globes business owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Why Confidentiality Matters
Highly publicized maps and globes business sales are risky maps and globes businesssales. 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. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. 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 maps and globes business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Factoring In Economic Variables
When you sell a maps and globes business, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a maps and globes business. If you don't believe your maps and globes business would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. When it comes to selling a maps and globes business, successful sales sales often boil down to the business itself - not the economy.
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