November 17, 2019  
 
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Selling a Company

 

Selling a Limos Business

Market shifts affect business values and the limos business market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a limos business whem market conditions threaten a successful business sale.

Intimidated by a sluggish economy, business buyers are more cautious than ever.
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Undaunted by economic conditions, many limos business sellers are achieving their sale goals through deliberate sale strategies.

Broker vs. No Broker

When selling a limos business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your limos business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered limos business sale.

Leveraging Seller Concessions

Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. 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.

Before You Sell

The upfront time you investment in the sale of your limos business will pay big dividends at closing. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

More Exit Planning Articles

Given your interest in exit planning and in limos businesses, you might find these additional resources to be of interest.

Marketing a Limos Business

What Does a Business Broker Charge?

Family Business Exit Plans

Entrepreneurial Exit Strategies


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