Business Exit Planning
Selling a Mixing and Agitation Machinery Business
Don't believe anyone who tells you it's easy to sell a mixing and agitation machinery 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.
In any economy, there is a right way and a wrong way to sell a business.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to mixing and agitation machinery businesses that exhibit strong financials and potential for future growth.
Moving On
So you've decided to sell your mixing and agitation machinery business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your mixing and agitation machinery business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
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