Sell a Business for the Best Price
Selling a Picture Frames Manufacturers' Supplies Business
Over the past few years, the picture frames manufacturers' supplies business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a picture frames manufacturers' supplies business during challenging economic times.
If you plan on selling your picture frames manufacturers' supplies business quickly, prepare to be disappointed.
The economy hasn't squashed the market for picture frames manufacturers' supplies businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Sale Preparation Timeframes
There are no effective shortcuts for selling a picture frames manufacturers' supplies business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Unless you have already started planning for your picture frames manufacturers' supplies business sale, it's going to take at least six months to prepare your business. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Signs You're in Over Your Head
Many picture frames manufacturers' supplies business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other picture frames manufacturers' supplies businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions picture frames manufacturers' supplies business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. 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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