Business Exit Planning
Selling a Materials Testing Laboratories Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the materials testing laboratories business market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a materials testing laboratories business during challenging economic times.
Despite your best intentions, great business sales don't happen overnight.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a materials testing laboratories business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Leveraging Industry Connections
Today's materials testing laboratories business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Average Timeframes
Hoping for a quick materials testing laboratories business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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