Sell a Business Tips
Selling a Steel Brokers Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the steel brokers business industry has seen more than its share of fluctuations in business values. Here's what you'll need to know to sell a steel brokers business whem market conditions threaten a successful business sale.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
If you're ready to move on, now is the right time to sell your steel brokers business.
Maintaining Objectivity
Emotions run high during the sale of a steel brokers business. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your steel brokers business. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your steel brokers business until the prospect has been qualified as a serious buyer.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your steel brokers business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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