Optimizing Business Exits
Selling a Rubber Research and Consulting Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a rubber research and consulting business sale isn't as scary as it seems.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
However, serious buyers also understand the value of a good rubber research and consulting business. So for rubber research and consulting business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Before You Sell
The upfront time you investment in the sale of your rubber research and consulting business will pay big dividends at closing. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Closing Strategies
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your rubber research and consulting business. 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young rubber research and consulting business owner, they can be critical launching points for their ownership journey.
Share this article
Additional Resources for Entrepreneurs