Business Exit Planning
Selling a Metal Fabricators Business
You've heard the naysayers - now isn't the time to sell a metal fabricators business. But what they don't know is that many entrepreneurs see metal fabricators businesses as a smart business investment.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a metal fabricators business, capital restrictions are holding them back.
In order to market a metal fabricators business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Handling Unexpected Outcomes
When you made the decision to sell your metal fabricators business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Closing Strategies
Today's metal fabricators business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in metal fabricators business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your metal fabricators business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Share this article
Additional Resources for Entrepreneurs