You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a boat trailer rental business.
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You'll always have an excuse for not putting your business on the market. Selling a boat trailer rental business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for boat trailer rental business sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your boat trailer rental business as attractive as possible so to buyers right now.
It's obvious that you're going to need to hire an attorney to finalize the sale of your boat trailer rental business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Given your interest in exit planning and in boat trailer rental businesses, you might find these additional resources to be of interest.
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