Profitable Niche Market Exit Plans
Selling an Organ Parts and Supplies Business
You've learned a lot during your tenure as an organ parts and supplies business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
In a down economy, many organ parts and supplies 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 organ parts and supplies businesses that are actually for sale.
More than a few organ parts and supplies business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your organ parts and supplies business, it's likely that you will be the front line negotiator. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the organ parts and supplies business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
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.
Share this article
Additional Resources for Entrepreneurs