First impressions matter; you wouldn’t show up to a job interview in a wrinkled shirt. In the context of selling your middle market aerospace and defense business, the presentation of your facility is like the starch in your shirt. Your facility appearance is extremely important to gain the confidence of potential buyers and increase perceived value.
Over the past 24 years, Alderman & Company has seen that completing select facility cleanups/improvements, ahead of buyers visiting, can have significant return on investment.
In Deal Notes® 124 and 132, we outlined what facility tours by different parties look like and general best practices. In today’s Deal Note®, we cover completing improvements to your facility before potential buyers visit.
You don’t need to invest huge sums to improve the look of your facility. There are many common recommendations we make to vastly improve the presentation of your facility at minimal cost. A few examples include:
- Ensuring marked walkways on facility floors have no significant rips or discoloration
- Adding clearly labeled workstations and cells signage
- Organizing the conference room and replacing old furniture in which the potential buyers will sit during discussions or lunch
- Power washing the outside of the facility
- Resurfacing the entry parking lot and re-painting the lines
These are just a small sample of extremely cost-effective facility improvements that create a positive first impression for potential buyers, in addition to all the output your facility creates. When the time is in sight for facility tours with buyers, we highly recommend that you consider making these kinds of small investments.
Have a great day,
Ryan Kirby
Junior Partner
