Advice on Niche Market Exit Planning
Selling a Time Stamps Business
We hear from a lot of business owners who are timid about listing their time stamps business. Despite the mood of the market, we think there are still opportunities to receive a good price for your time stamps business. Here's what you need to know . . .
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
In order to market a time stamps business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Realistic Expectations
Emotions run high during the sale of a time stamps 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.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your time stamps business's physical assets. But you'll need to commission your own appraisal before you put your time stamps business on the market to arm yourself with information for the negotiation phase. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. A pre-listing appraisal also gives you the opportunity to document the condition of your time stamps business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Working with Accountants
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. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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