Sell a Business Tips
Selling a Surgical Trusses Business
The sale of your surgical trusses business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
It's a fact: Successful business sales take time.
To achieve your goals, you'll need to know the market as well as key business selling techniques. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your surgical trusses business during their initial inquires. Avoid releasing details about your surgical trusses business until you have established that they have the financial capacity to make a legitimate offer.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a surgical trusses business up for sale. With interest rates at all-time lows, it's easy to see why surgical trusses businesses are an appealing investment opportunity for savvy investors. When the economy recovers there will be more surgical trusses business buyers on the market, but higher interest rates could present challenges. 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.
Sale Costs
In a surgical trusses business sale, pricing is based on a number of factors, including the costs incurred during the sale. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of a surgical trusses business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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