Hiring a manufacturing business broker will guarantee that you don’t make mistakes that keep you from closing fast and for the right price. At So-Cal Business Brokers we have been selling manufacturing businesses for close to three decades now. We know how to position your business in a way that guarantees a quick sale and enables you to close at maximum profit. One thing we usually stress on when getting ready to sell your business is to invest in your team.
Your business must not be dependent on you
The fear that every business buyer has is that of purchasing a business that is dependent on the owner. Such businesses almost always end up taking a dive after the transfer of ownership. The first thing our manufacturing business brokers will recommend you do is take yourself from the equation. This means you need to train or hire a team to take over your tasks. By so doing, you will be able to win the confidence of potential buyers.
Our job as your business broker will be proving to potential buyers that your business can thrive under their management. To do this, we ensure you document all processes and systems so that the new owner will be able to take over easily. We will also negotiate favorable terms for you to stay on as a consultant.
Managers in place for key functions
In addition to taking yourself from operation, it is imperative that you have managers in place for each key function of the business. This means someone other than you will be doing the quoting, talking with customers, managing the plant floor and offices and so on. If you don’t already have managers in place now is the best time to start training them. Our manufacturing business broker will offer valuable tips for this.
Not many business owners think about this when selling but if the majority of your staff have grey hair you will have a hard time selling your business. Buyers are not interested in businesses whose staffs are months shy of retirement. If most of your team is close to retirement, you will do best to get some younger blood trained and ready.
The kind of team you have will determine how fast you sell your manufacturing business. Our job as your manufacturing business brokers is to ensure that your business is completely ready for the sale. We want to help you close fast and for the right price. Contact us today to schedule a free consultation.