Exit Planning Advice By Market
Selling an Advertising and Promotional Awards Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your advertising and promotional awards business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
The advertising and promotional awards business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
But at Gaebler, we see advertising and promotional awards businesses still selling at a brisk pace. 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.
Workforce Concerns
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. You're concerned about confidentiality, and rightfully so. 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 advertising and promotional awards business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
Broker vs. No Broker
When selling an advertising and promotional awards business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. 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 advertising and promotional awards business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Understanding Market Timing
Now may be the best time to sell an advertising and promotional awards business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on advertising and promotional awards businesses. When the economy recovers there will be more advertising and promotional awards business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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