Niche Market Exit Planning Tips
Selling a Boat Hauling Business
You've learned a lot during your tenure as a boat hauling business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact boat hauling business sales nearly as much as sale strategy.
Does that mean selling your boat hauling business will be a piece of cake? No -- but you might be surprised to learn that the boat hauling businesses that are selling these days are finding success though simple, common sense selling strategies.
Setting the Stage
Effective boat hauling business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a boat hauling business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium boat hauling business opportunity.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized boat hauling business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
When the Sale Goes Off-Course
The boat hauling business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
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