Niche Market Exit Planning Tips
Selling a Boats Service and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet boats service and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Selling a boats service and repair business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Most boats service and repair businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the boats service and repair business is coming to an end, the time to sell is now. Some experts are telling boats service and repair business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the boats service and repair business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Maximizing Sales Price
There are no simple ways to sell a boats service and repair business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their boats service and repair businesses.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a boats service and repair business that languishes on the market for months or even years. The most common seller concession is seller financing. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
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