Advice on Niche Market Exit Planning
Selling a Textile Fibers Manufacturing Business
With the economy limping along, many textile fibers manufacturing business owners are hesitant to put their businesses on the market. At Gaebler, we think it's a great time to sell a textile fibers manufacturing business. Here's why . . ..
Personal and professional concerns surround the sale of a textile fibers manufacturing business. In our experience, a common owner concern is how the sale will affect customers and employees.
At Gaebler, we're seeing textile fibers manufacturing business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Selling Time
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their textile fibers manufacturing business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a textile fibers manufacturing business for sale and many sellers spend a year or more positioning their business to command a higher price. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
How to Skillfully Address Buyer Concerns
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions textile fibers manufacturing business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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