Sell a Business Tips
Selling a Statuary Business
A good business is about more than dollars and sense. To make your statuary business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
Selling a statuary business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. With hard work and dedication, your statuary business can be sold at or above fair market value right now.
Timing the Market
Now may be the best time to sell a statuary business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on statuary businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of statuary businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. In a statuary business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. But great negotiation begins with knowing yourself. What is the realistic price range for your statuary business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your statuary business. In the event that the sale fails to meet your expectations, you may want to consider taking the business off the market until you can grow it enough to achieve your desired sale price.
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