Sell a Business for the Best Price
Selling a Power Transmission Equipment Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a power transmission equipment business sale. At Gaebler, we think it's a great time to sell a power transmission equipment business. Here's why . . ..
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a power transmission equipment business, capital restrictions are holding them back.
But the good news is that there is still demand for power transmission equipment businesses that present well and offer solid earning potential.
Preparing Family Members
You're ready to sell your power transmission equipment business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a power transmission equipment business has to include ample communication and shared decision-making.
Leveraging Industry Connections
Today's power transmission equipment business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Sweetening the Deal
Today's power transmission equipment business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in power transmission equipment business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
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