November 12, 2019  
 
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Selling a Company

 

Selling a Lift Trucks Business

A lot can go wrong during the sale of a lift trucks business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.

In a down economy, many lift trucks business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of lift trucks businesses that are actually for sale.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a lift trucks business. With the right information and strategy, you could be well on your way to a successful sale

Legal Considerations

There is no way around the requirement to hire professional legal assistance when you sell your lift trucks 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.

Dealing with Tire Kickers

Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your lift trucks business until the prospect has been qualified as a serious buyer.

Understanding Market Timing

Worried about timing? Believe it or not, this could be an advantageous time to put a lift trucks business up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on lift trucks businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Marketing a Lift Trucks Business

What Does a Business Broker Charge?

Terms of Investment Banking Agreement

Entrepreneurial Exit Strategies


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What challenges have you experienced in selling a lift trucks business or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


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