With technology continuously evolving and improving, there is always room for growth. For instance, software development shows high job growth of 30.7% annually – the highest in the industry. Employees at these companies have a median salary of $100,000, which is considerably higher than the national average. Considering the fact that this is only one facet of a multi-faceted industry, the employment rate is ever-increasing. Even companies outside of the industry are heavily dependent on technology, with 44% of businesses increasing their information technology (IT) budgets annually.
Additionally, the number of businesses in the consumer electronics industry tripled and employment increased by 68% from 2001 to 2017. The consumer electronics industry is constantly growing as people rely more and more on electronics for their day-to-day lives.
The process of selling an electronics/technology business is much like any other. For one, there is the decision of whether or not to use a broker. Whether you decide to work with or without an advisor, the first step is getting your finances in order. Balance your income statements and calculate your operational costs versus your profit. Compile a list of your assets including an inventory of stock, equipment, etc. With these numbers, you can begin to determine the value of your business and decide on a listing price so that you can officially put your business on the market. The advantage to working with a business broker is that you will have their expertise to guide you.
Advisors have access to a network of vetted buyers that are ready and able to make a worthy offer for your technology business. Your broker will assist you with the listing and marketing of your technology business in addition to sifting through potential buyers. They are skilled in maintaining confidentiality throughout the sale and serve as a neutral location for negotiations.
Once the right buyer is found, your Transworld Business Advisor team member will guide you through the due diligence process and help you submit all of the necessary documentation to transition ownership to the right buyer. From the moment you have decided to sell, to the moment you hand off your technology business, the process is simplified in the professional hands of an industry-expert advisor at Transworld Houston.
If you are looking to sell your electronics/technology business in the Houston area, contact Transworld Business Advisors of Houston today!