Will the buyer keep the business going or are they only looking to buy your assets? What kind of relationship will they have with your current customers? How will you protect your business information or business secrets during the purchase?īefore you decide to sell your business to a competitor, make sure that you’ve done a proper valuation and know exactly how much your business is worth. Take the time to talk with him and ask the right questions. As important, you will want to be sure of the potential buyer’s intentions. Using the support of an M&A advisor is a good solution as he will be objective advising you based on the facts.īefore selling to a competitor, you will need to make plans to keep the business going during the process. Try, as much as possible, to set aside your emotions so that you are not compelled to sell if the price and situation are not right. First, it can be emotional when considering selling your business to a competitor. Just like there are pros to selling your business to a competitor, there are also some cons or disadvantages. Of course, there are two sides to every coin. Additionally, because your competitor can turn a profit faster, he might be willing to pay more for your business. Their experience will also make securing financing to buy your business much easier. If you are looking to exit your business quickly, selling to a competitor might seem a logical solution and in fact, there could be a number of advantages In addition to the possibility of a rapid transaction, your competitor will know the ins and outs of your business, resulting in a smoother transition.
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