Business Exit Planning
Selling a Mobile Home Manufacturers' Equipment and Parts Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
Dire economic forecasts have forced many mobile home manufacturers' equipment and parts business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
To achieve your goals, you'll need to know the market as well as key business selling techniques. But for business sellers, the process begins with having the right mental attitude.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your mobile home manufacturers' equipment and parts business, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Preparing for What's Next
What will happen if your mobile home manufacturers' equipment and parts business is a success? 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. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your mobile home manufacturers' equipment and parts business attractive to buyers.
Tips for Working with A Business Broker
Business brokers are professional business sellers. It's typical for mobile home manufacturers' equipment and parts business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your mobile home manufacturers' equipment and parts business on BizBuySell.com and other online business-for-sale sites.
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