Sell a Business Tips
Selling a Sanitary Products and Supplies Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your sanitary products and supplies business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
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 sanitary products and supplies business, capital restrictions are holding them back.
Market timing is a constantly moving target. So if you're waiting for the perfect market conditions to sell your sanitary products and supplies business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Setting the Stage
Effective sanitary products and supplies business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Financial statements, appraisals, operations manuals and other documents lay the foundation for your sanitary products and supplies business sale, creating incentives for prospects to agree to a higher asking price.
Working with Appraisers
An experienced appraiser is part and parcel of a successful sanitary products and supplies business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Sweetening the Deal
Today's sanitary products and supplies 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young sanitary products and supplies business owner, they can be critical launching points for their ownership journey.
Share this article
Additional Resources for Entrepreneurs