Advice on Niche Market Exit Planning
Selling a Thread Manufacturers Business
No one said selling your business in a depressed economy would be easy. Fortunately, a thread manufacturers business sale isn't as scary as it seems.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a thread manufacturers business sale works.
Undaunted by economic conditions, many thread manufacturers business sellers are achieving their sale goals through deliberate sale strategies.
Broker vs. No Broker
When selling a thread manufacturers business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your thread manufacturers business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. 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.
Negotiation 101
It's critical to negotiate from a position of strength. More often than not, the person with the most knowledge will come out on top in a thread manufacturers business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
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