Selling a Business Advice
Selling an Industrial Research Business
A good business is about more than dollars and sense. To make your industrial research business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
It takes dedication to sell an industrial research business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
But at Gaebler, we see industrial research 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.
The Emotions of a Business Sale
There is no easy way to say goodbye to your business. You probably have good reasons for selling your industrial research business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your industrial research business. Few people know your business as well as you do. But your knowledge and personal insights about the industrial research business are also the problem. You see your company's potential. But buyers don't pay for potential - they pay for current market value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful industrial research business sale.
Finding Industrial Research Business Buyers
Buyers of industrial research businesses run the gamut. Some are seasoned industrial research business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. networking may also prove to be a valuable resource for identifying prospective buyers, but only to the extent that it can be done discreetly.
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