Sell a Business Tips
Selling a Scientific Instruments Service and Repair Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a scientific instruments service and repair business sale. At Gaebler, we think it's a great time to sell a scientific instruments service and repair business. Here's why . . ..
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
But the good news is that there is still demand for scientific instruments service and repair businesses that present well and offer solid earning potential.
Selling to a Family Member
There is no easy way to sell a scientific instruments service and repair business, not even to a family member. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Legal Concerns
In a scientific instruments service and repair business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
What About Market Conditions?
No one plans to sell a scientific instruments service and repair business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a scientific instruments service and repair business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
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