Sell a Business Tips
Selling a Surge Protectors Business
Unfortunately, many sellers are waiting to list their surge protectors businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, surge protectors businesses are a great investment.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a surge protectors business.
Success is a factor of preparation, execution and a keen eye for the market. But for business sellers, the process begins with having the right mental attitude.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. 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 you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Professional Appraisals
An experienced appraiser is part and parcel of a successful surge protectors 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.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a surge protectors business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
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