When it is time to sell manufacturing business it is important to note that buyers will have to do their own research before making an offer. This is what is known as discovery. At So-Cal Business Brokers we have sold many businesses and know what buyers will do throughout the process. We are able to predict the actions of your preferred buyers and will be able to advise you accordingly so that you end up with the best deal. It is good to note that we will not allow buyers to get to the due diligence phase before they make an offer. So what will they be doing in the meantime? Here is what you should be prepared for.
Get the basic facts
To determine if your business is ideal for them buyers will get preliminary information on your terms, price, cash flow, income as well as general location. To avoid chasing good buyers away as you sell manufacturing business we will help with pricing. We may utilize business brokers, financial advisors, accountants and transaction attorneys. After performing a business valuation we set a selling price after considering a range of factors that affect the market climate. What are the bank interest rates? For how much did similar businesses sell for?
Visit the business
Buyers will also want to visit your business in person to determine if they like the location as well as the look of the business itself. Our job prior to this point is helping you make your business as attractive as possible. We know that first impressions matter and that is why we help you improve your business inside out.
A visit to your business is not done without an appointment. After prescreening a potential buyer we will work with you to set a date for the visit. We do this to maintain confidentiality. You don’t have to interact with the buyer. Our business broker can guide them around.
Get questions answered
Another important thing a buyer will do is ask all the questions he has. Our business broker will be by your side to help answer all the questions appropriately. Some of the questions you can expect include:
- What is the rent?
- How long is the lease and is the lease transferable?
- Can you support the figures you gave with solid proof?
If the buyer still likes your business so far he will go ahead and make an offer. Our job as you sell manufacturing business is to ensure the offer given is both fair and binding. We will also help you review the buyer’s terms and help you restructure the sale in a way that doesn’t push the buyer away.
Don’t let amateurs sell your business. So-Cal Business Brokers has everything you need to sell manufacturing business fast and for the right price. Take advantage of our free, no-obligation consultation today.