Exit Planning Tips

Selling a Highway Commission Business

Most businesses are susceptible to economic conditions and highway commission businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.

The economy isn't the only thing that is uncertain these days. So are highway commission business buyers, many of whom are waiting to pull the trigger on their next acquisition.

They require careful planning and an intentional strategy that emphasizes your highway commission business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.

Seller Concessions

In the current marketplace, seller concessions can make the difference between a business sale and a highway commission business that languishes on the market for months or even years. 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.

Working with Accountants

Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.

Pre-Sale Checklist

There is a lot of work that needs to be done before you're ready to sell your highway commission business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.

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