Selling a Business Advice
Selling an Interlocking Brick Business
There are no guarantees when you sell an interlocking brick business. But our tips will equip you with the information you need to increase the likelihood of a successful sales outcome.
In a down economy, many interlocking brick business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of interlocking brick businesses that are actually for sale.
For sellers who are willing to perform adequate sale preparation, the numbers make interlocking brick businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your interlocking brick business's inventory, equipment, and physical assets. Your appraisal should occur before you put your business on the market. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Sale Documents
We run into a lot of interlocking brick business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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