Coming up with an exit strategy early is the first thing a manufacturing business broker will recommend you do if you plan on selling your business soon. At So-Cal Business Brokers we have been selling businesses for more than 20 years. We are in the best position to help you get ready for an exit and guarantee that you get the best results at the end of the day. But what are your options when you are ready to exit?
This option is considered when you want to close up shop and sell the business’ assets. Liquidation is often the only option for businesses that are dependent on a single individual. You can choose to liquidate all at once or over time. The best thing about liquidation is that it is simple and you can sell fast. Our manufacturing business brokers will not recommend this option because it has the lowest return on investment to you, the owner.
Keep it in the family
Keeping the business in the family will ensure that your legacy lives on. You also get to provide a living for the heirs. This option offers smooth transition and you can also keep a hand in the business as an advisor. The flipside is that family succession can lead to infighting among the family members or the person taking over may not have the skills needed to run the business. Our team will help with planning and with relevant paperwork. We will also be able to tell you if keeping the business in the family is the best way to go.
Sell to managers or employees
If an employee is interested in buying the business there is no harm in selling it to them. This is a great option because the employee understands the ins and outs of the business and will be able to run it enthusiastically. The drawback is that the employee may lack the skills and clients may disapprove the new management.
Sell on the open market
This is the most popular exit strategy. Our team at So-Cal Business Brokers has more experience in this area. We will help you get the business ready for sale and ensure you sell to the right buyer and for the best price. You stand to earn a better return on investment with this option. Selling to another business is also a great option.
The duty of our manufacturing business broker is to ensure that you sell to the right buyer, fast and for the best price. Contact us today and take advantage of our free consultation. We are always happy to hear from you.