Business Exit Planning
Selling a Mirrors Commercial and Industrial Business
Don't believe anyone who tells you it's easy to sell a mirrors commercial and industrial business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
The buzz in the marketplace is that now isn't the right time to sell a mirrors commercial and industrial business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a mirrors commercial and industrial business.
Buyer Identification
It's difficult to predict where the buyer of your mirrors commercial and industrial business will come from. Avoid pigeon-holing your search to a single buyer category. Many sellers achieve success by listing their mirrors commercial and industrial businesses in multiple channels. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Average Timeframes
Hoping for a quick mirrors commercial and industrial business sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your mirrors commercial and industrial business, you'll need to invest as much as a year in preparing it for prospective buyers. 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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