Business Exit Planning
Selling a Motorcycle Consignment Business
You've learned a lot during your tenure as a motorcycle consignment business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to motorcycle consignment businesses that exhibit strong financials and potential for future growth.
What to Expect in a Motorcycle Consignment Business Sale
The sale of a motorcycle consignment business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your motorcycle consignment business on the market.
Equipment and Inventory Concerns
Buyers typically perform an independent appraisal of your motorcycle consignment business's real assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your motorcycle consignment business.
Leveraging External Resources
There are a range of professionals available to guide you through the sale of a motorcycle consignment business. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your motorcycle consignment business, you can avoid painful tax and legal complications both before and after closing.
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