There will come a time when you will need to get your molding company off your hands. When this time comes, you might want to sell it to a new owner or pass it down to a family member of a valued employee. During this time, the best thing you can do is discuss your options with a business broker for molding companies Orange County. This is a professional that is involved regularly in the sale of molding companies. Their input will come in handy as you get ready to sell.
There is a process a reliable business broker for molding companies Orange County will follow. This process may vary from one business brokerage firm to the next but it involves some of the following steps.
Initial meet up
Business brokers in Orange County are very picky when it comes to who they work with. This is understandable considering they get paid on commission. They want to make sure that your business will be sellable. The purpose of the first meeting is to evaluate the sell-ability of your business based on your terms. During this meeting, you will be asked about your reasons for selling, your preferred buyer, and any special requirements you might have.
Discuss value ranges
Once the business broker agrees to sell your business, the next step will be setting a selling price. The broker will start by performing a business valuation. This helps understand the real value of the business. Second, they will consider various factors such as the market climate and the strengths of your business. This helps set the most appropriate selling price.
Develop a list of items to be completed before selling
Prior to getting your molding business listed, the business broker will provide you with a list of things you must do. This may include diversifying your customer base, settling debts and training someone to take over your responsibilities as the business owner. This list of items helps make your business more valuable to potential buyers.
Create a sales packet
Once everything is ready, the broker will develop a ‘sales packet’. This is meant to get buyers excited. The sales packet focuses on the strengths of your business and is meant to entice buyers to want to find out more about your business. The sales packets are sent out to pre-screened buyers that have interest in businesses like yours.
Pick the best deal
Once the sales packets are sent out, the next thing the business broker for molding companies in Orange County will do is gather the letters of intent. This is what starts the bidding war. The broker will help select the best deal and guide you to closing.