About half of all businesses shut down within five years of opening, and the economic shutdown of 2020 no doubt made this worse. This left many business owners who use industrial manufacturing machinery and equipment asking how to sell their shop. When combined with those who are simply ready to retire from their industry, you’re left with a large group of professionals looking to sell their CNC machine shop.
If you’re in this group, how do you get started? Fortunately, it’s a straightforward process when you know what you’re doing. As long as you follow these tips, you should be able to get the best price for selling your CNC machine shop and industrial assets.
Gather Appropriate Documentation
Anyone who is looking to buy CNC machinery or an entire shop wants to know they’re making a solid investment. It is always beneficial to have the original PO’s and manuals for the machines you are wanting to sell available.
Consider Holding Onto Employees
Anyone selling a machine shop is likely trying to cut costs in any way possible before the sale. This often includes laying off employees who may have worked at the company for years. Unfortunately, doing this can leave you at a disadvantage. Keeping key employees around is beneficial, especially those who know how to run the equipment that you are wanting to sell.
Clean Up Everything
A machine with an oily film or layer of dust may perform just as efficiently as equipment someone recently cleaned. Unfortunately, this isn’t how buyers see it. Taking just a few steps to clean up machinery can lead to a much better selling price. The following should cut it:
- Industrial strength degreasers.
- Mirror glaze compounds.
- Metal polishing cream.
In addition to cleaning your equipment, you’ll really prove you know how to sell a CNC machine shop by making the building “shine.” Once the entire shop and all machinery is looking pristine, take several high-quality photos and record a video of the equipment in action.
You Know How to Sell Your CNC Machine Shop. Now What?
Whether the economy wreaked havoc on your business or you’re simply ready to move on, you now have all the knowledge necessary for selling your CNC machine shop. The only thing left to do now is to get started. Once you’ve done everything possible to increase the value of your shop, quickly get it listed for sale so buyers don’t miss out.
If you’re looking to get top dollar now that you know how to sell a CNC machine shop, speak with a CNC Machine Auction Expert at IRS Auctions by clicking here or calling us at (817) 834-4075 today.