Niche Exit Planning Tactics
Selling a Wholesale and Manufacturers Gas Engines Business
You've learned a lot during your tenure as a wholesale and manufacturers gas engines business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a wholesale and manufacturers gas engines business sale works.
The economy hasn't squashed the market for wholesale and manufacturers gas engines businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Broker vs. No Broker
Anyone who has ever sold a wholesale and manufacturers gas engines business has eventually needed to decide whether to use a business broker or go it alone. 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 wholesale and manufacturers gas engines business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the wholesale and manufacturers gas engines business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Family Issues
Many sellers embarked on their wholesale and manufacturers gas engines business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a wholesale and manufacturers gas engines business often begins with a family conversation and a mutual decision to move on the next stage of life.
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