Mastering Niche Market Exit Planning
Selling a Noise Control Products and Services Business
Unfortunately, many sellers are waiting to list their noise control products and services businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, noise control products and services businesses are a great investment.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your noise control products and services business.
Business Assets
It's incumbent on buyers to commission their own appraisal of your noise control products and services business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your noise control products and services business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Before You Sell
The pre-sale checklist for a noise control products and services business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your noise control products and services business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your noise control products and services business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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