Sell a Business Tips
Selling a Scales Repair Business
A lot can go wrong during the sale of a scales repair business these days. We'll tell you how to keep your sale and your future plans on track.
You won't find any magic formulas for selling a scales repair business, especially while the market is struggling to overcome the perceptions created by a down economy.
If you're ready to move on, now is the right time to sell your scales repair business.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. No two scales repair business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the scales repair business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Preparing Your Scales Repair Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive scales repair business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your scales repair business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
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