Niche Market Exit Planning Tips
Selling a Barge Leasing Business
Looking for shortcuts? You won't find them when you sell a barge leasing business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Despite the conventional wisdom, we believe current economic conditions are right for selling a barge leasing business. We'll tell you what you need to know to achieve a successful sale outcome
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions barge leasing business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your barge leasing business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your barge leasing business on the market.
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