Selling a Business Advice
Selling an Industrial Control Instruments Business
No one said selling your business in a depressed economy would be easy. But selling your industrial control instruments business doesn't have to be as daunting as it sounds.
Dire economic forecasts have forced many industrial control instruments business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Many business owners don't know that industrial control instruments businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. No two industrial control instruments business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Timing the Market
Now may be the best time to sell an industrial control instruments business. With interest rates at all-time lows, it's easy to see why industrial control instruments businesses are an appealing investment opportunity for savvy investors. When the economy recovers there will be more industrial control instruments business buyers on the market, but higher interest rates could present challenges. At Gaebler, we recognize the value of timing the sale of your industrial control instruments business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your industrial control instruments business. The bad news is that they will lack the financial capacity to close the deal. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
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