I’ve written several books in the past for Diomo.com, a terrific company that guides individuals through the process of buying businesses. I interviewed many people while I was researching those books. Here are two stories I heard about people let dollars slip through their fingers when selling businesses.
A Son Who Sold His Father’s Silverware Manufacturing Company
When his father passed away, a man sold his father’s established tableware manufacturing company without stopping to consider the value of the metals that were in stock. Perhaps he was too upset by his father’s death to want to investigate. Or maybe he just wanted to dispose of the business quickly so he could wrap up his father’s estate. Chances are that the son could have achieved a higher price for the sale if he had had those metals appraised by a qualified precious metals refinery. (I bet that the new owner didn’t fail to inventory the silver and other precious metals that were on hand.)
A Business Broker who Sells Manufacturing Companies
I spoke with a business broker who specializes in selling light manufacturing companies. He told me that he “likes a quick and clean transaction” and that he doesn’t “like to get my hands dirty.” That could be a mistake. If he acquired the habit of getting business-sellers to evaluate the production equipment that they are selling as part of their businesses, he could help those sellers command higher prices for the businesses they were selling. After all, production equipment can include computers, catalytic processors, thermocouples, refrigeration systems, ovens and kilns – and the list goes on and on. Appraising the precious metals in that equipment is a critical part of evaluating a business. There could even be an opportunity for the seller to remove and recycle the precious metals that are contained in old production equipment and claim those dollars before the business is sold.
An Invitation to Business Sellers and Business Brokers
Are you selling a small business? Or are you a broker who sells dozens or hundreds of businesses a year? Here’s a piece of advice. Don’t fail to consider precious metals when you sell a business. If you’d like a better idea of what those precious metals could be and what they are worth, call Specialty Metals Smelters and Refiners at 800-426-2344 to learn more.
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