Advice on Niche Market Exit Planning
Selling a Time Switches Business
Selling a time switches business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Dire economic forecasts have forced many time switches business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
If your exit strategy involves selling a time switches business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Laying the Groundwork
A successful time switches business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Financial statements, appraisals, operations manuals and other documents lay the foundation for your time switches business sale, creating incentives for prospects to agree to a higher asking price.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In a time switches business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Working with Appraisers
An experienced appraiser is part and parcel of a successful time switches business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed 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.
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