Selling a Business Advice
Selling an Inventory Services Business
When it's time to sell your inventory services business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
The inventory services business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
You'll always have an excuse for not putting your business on the market. Selling a inventory services business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Sweetening the Deal
Today's inventory services business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young inventory services business owner, they can be critical launching points for their ownership journey.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Post-Sale Details
As your inventory services businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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