Niche Exit Planning Tactics
Selling a Watchmakers' Equipment and Supplies Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the watchmakers' equipment and supplies business marketplace has been a shaky environment for sellers. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a watchmakers' equipment and supplies business during challenging economic times.
The buzz in the marketplace is that now isn't the right time to sell a watchmakers' equipment and supplies business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
There is no simple way to sell a business. But the most prepared watchmakers' equipment and supplies business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Signs You're in Over Your Head
Many watchmakers' equipment and supplies business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
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
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a watchmakers' equipment and supplies business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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