Business Exits By Industry
Selling a Contractors' Equipment and Supplies Service and Repair Business
There's a right way and a wrong way to sell a contractors' equipment and supplies service and repair business these days. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the contractors' equipment and supplies service and repair business market and locate potential buyers ASAP.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. If you aren't sure what to look for in a serious buyer, ask your broker for advice. It's likely that non-serious buyers will want to know everything about your contractors' equipment and supplies service and repair business during their initial inquires. Avoid releasing details about your contractors' equipment and supplies service and repair business until you have established that they have the financial capacity to make a legitimate offer.
Signs You're in Over Your Head
Many contractors' equipment and supplies service and repair business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some contractors' equipment and supplies service and repair business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for contractors' equipment and supplies service and repair businesses than other buyers.
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