Niche Exit Planning Tactics
Selling a Wholesale or Manufacturer of Laboratory Equipment and Supplies Business
Over the past few years, the wholesale or manufacturer of laboratory equipment and supplies business market has been exceptionally volatile. 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 wholesale or manufacturer of laboratory equipment and supplies business during challenging economic times.
Personal and professional concerns surround the sale of a wholesale or manufacturer of laboratory equipment and supplies business. In our experience, a common owner concern is how the sale will affect customers and employees.
Despite the conventional wisdom, we believe current economic conditions are right for selling a wholesale or manufacturer of laboratory equipment and supplies business. With the right information and strategy, you could be well on your way to a successful sale
Sale Preparation Timeframes
It's critical to properly plan for the sale ofa wholesale or manufacturer of laboratory equipment and supplies business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a wholesale or manufacturer of laboratory equipment and supplies business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your wholesale or manufacturer of laboratory equipment and supplies business. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your wholesale or manufacturer of laboratory equipment and supplies business until the prospect has been qualified as a serious buyer.
Professional Appraisals
An experienced appraiser is part and parcel of a successful wholesale or manufacturer of laboratory equipment and supplies business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
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