Sell a Business for the Best Price
Selling a Precious Metal Refiners and Smelters Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet precious metal refiners and smelters businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Like it or not, a precious metal refiners and smelters business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. In our experience, a common owner concern is how the sale will affect customers and employees.
But at Gaebler, we see precious metal refiners and smelters businesses still selling at a brisk pace. 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.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. In the precious metal refiners and smelters business industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized precious metal refiners and smelters business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Share this article
Additional Resources for Entrepreneurs