Optimizing Business Exits
Selling a Rivets Business
Over the past few years, the rivets business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a rivets business during challenging economic times.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a rivets business.
If you're ready to move on, now is the right time to sell your rivets business.
Turning the Tables: Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your rivets business. 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. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Broker vs. No Broker
Anyone who has ever sold a rivets business has eventually needed to decide whether to use a business broker or go it alone. Although brokerage fees can be substantial, the right broker can reduce the amount of time your rivets business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Preparing for What's Next
So you've decided to sell your rivets business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
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