Sell a Business for the Best Price
Selling a Power Protection Systems Business
Your power protection systems business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
You won't find any magic formulas for selling a power protection systems business, especially while the market is struggling to overcome the perceptions created by a down economy.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a power protection systems business.
Maintaining Objectivity
For most owners, the hardest part of selling a power protection systems business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your power protection systems business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Pros & Cons of a Sale to an Employee
There are both benefits and drawbacks to selling a power protection systems business to an employee. A key employee may seem like a natural sales prospect. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based power protection systems business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Share this article
Additional Resources for Entrepreneurs