Sell a Business Tips
Selling a Speaker Dealers Business
You've invested time, effort, and creativity into building your speaker dealers business. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
In today's market, there is still plenty of room for speaker dealers businesses that demonstrate solid earning capacity and a robust market position.
Why Confidentiality Matters
Highly publicized speaker dealers business sales are risky speaker dealers businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable speaker dealers business can be reduced to one that is struggling to survive. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Finding Prospects
Whether you know it or not, prospective buyers for your speaker dealers business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for speaker dealers businesses than other buyers.
Working with Appraisers
An experienced appraiser is part and parcel of a successful speaker dealers business sale. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Share this article
Additional Resources for Entrepreneurs