Business Exit Planning
Selling a Metal Specialties Business
Is the economy still a little shaky for a business sale? Sure it is. Yet metal specialties businesses continue to sell at a brisk pace, regardless of the economy.
In any economy, there is a right way and a wrong way to sell a business.
At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your metal specialties business on the market.
Preparing Your Metal Specialties Business for Sale
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable metal specialties business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your metal specialties business will command in the marketplace. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
Turning the Tables: Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your metal specialties business. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Leveraging External Resources
At some point, you're going to need help selling your metal specialties business. The enlistment of a qualified business broker is an excellent first step. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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