November 17, 2019  
 
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Selling a Company

 

Selling a Limousine Dealers and Manufacturers Business

Most businesses are susceptible to economic conditions and limousine dealers and manufacturers businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.

Dire economic forecasts have forced many limousine dealers and manufacturers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.

Advantages of Hiring a Broker

A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.

Selling a Limousine Dealers & Manufacturers Business to an Employee

Employee sales have pros and cons. A key employee may seem like a natural sales prospect. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your limousine dealers and manufacturers business, a sale to an employee is probably not a possibility.

Moving On

So you've decided to sell your limousine dealers and manufacturers business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.

More Exit Planning Articles

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

Pre-Exit Employee Incentive Programs

Marketing a Limousine Dealers and Manufacturers Business

Role of Location In Selling a Business


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Want to continue the discussion about how to sell a limousine dealers and manufacturers business? If you have firsthand knowledge about exit planning issues and challenges, we invite you to submit your comments. Questions are also encouraged!


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