Sell a Business for the Best Price
Selling a Plastic Blow Molding Business
Don't believe anyone who tells you it's easy to sell a plastic blow molding 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.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your plastic blow molding business can attract buyers who recognize its potential.
In today's market, there is still plenty of room for plastic blow molding businesses that demonstrate solid earning capacity and a robust market position.
How to Work with Business Brokers
Business brokers are professional business sellers. Brokerage is particularly common in the plastic blow molding business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your plastic blow molding business on BizBuySell.com and other online business-for-sale sites.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Share this article
Additional Resources for Entrepreneurs