Exit Planning Tips
Selling a Hose Assemblies Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a hose assemblies business sale. But in reality, now may be the perfect time to sell a hose assemblies business.
The process of selling a hose assemblies business can be one of the most stressful experiences of your entrepreneurial career.
There is no simple way to sell a business. But the most prepared hose assemblies business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Post-Sale Details
Due diligence has ended and you're ready to close on the sale of your hose assemblies business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Seller Concessions
It's becoming more difficult to sell a hose assemblies business without considering seller concessions. The most common seller concession is seller financing. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Sale Preparation Timeframes
There are no effective shortcuts for selling a hose assemblies business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a hose assemblies business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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