Profitable Niche Market Exit Plans
Selling an Orthopedic Shoes Technicians Business
You've learned a lot during your tenure as an orthopedic shoes technicians business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an orthopedic shoes technicians business.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your orthopedic shoes technicians business can be sold at or above fair market value right now.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. No two orthopedic shoes technicians 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. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Finding Prospects
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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