The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a lighting equipment and systems rental and leasing business, capital restrictions are holding them back.
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To sell a lighting equipment and systems rental and leasing business these days, business sellers may need to apply a combination of incentives and techniques.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your lighting equipment and systems rental and leasing business stays in the family, and everyone is happy. Yeah, right. In fact, selling your lighting equipment and systems rental and leasing business to a family member can quickly become a no-win proposition. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Signs You're in Over Your Head
Many lighting equipment and systems rental and leasing business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. 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. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your lighting equipment and systems rental and leasing business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Preparing Your Lighting Equipment & Systems Rental & Leasing Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable lighting equipment and systems rental and leasing business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your lighting equipment and systems rental and leasing business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
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