November 18, 2019  
 
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Selling a Company

 

Selling a Lifts Industrial Repair and Parts Business

You've learned a lot during your tenure as a lifts industrial repair and parts business owner. The next step is to position your business for the demands of the business-for-sale marketplace.

We hear it all the time: "I'm waiting until the economy recovers to list my business."
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The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a lifts industrial repair and parts business sale. To improve sale outcomes, you will simply need to tailor your lifts industrial repair and parts business to today's buyers.

Understanding Market Timing

Now may be the best time to sell a lifts industrial repair and parts business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on lifts industrial repair and parts 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.

When to End Negotiations

Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a lifts industrial repair and parts business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.

The Best Person to Sell Your Lifts Industrial Repair & Parts Business

An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the lifts industrial repair and parts business to gain an objective sense of fair market value.

More Info on Business Transitions and Related Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Lifts Industrial Repair and Parts Business

Why Hire an Exit Planning Consultant

Pros and Cons of Using Business Brokers

Selling Part of a Business


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