Business Exit Planning
Selling a Microfilm Storage Business
You've invested time, effort, and creativity into building your microfilm storage business. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Dire economic forecasts have forced many microfilm storage business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a microfilm storage business sale. To improve sale outcomes, you will simply need to tailor your microfilm storage business to today's buyers.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Selling a Microfilm Storage Business to an Employee
There are both benefits and drawbacks to selling a microfilm storage business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Pre-Sale Checklist
The upfront time you investment in the sale of your microfilm storage business will pay big dividends at closing. 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.
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