Business Exit Planning
Selling a Mufflers and Exhaust Systems Wholesale and Manufacturers Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the mufflers and exhaust systems wholesale and manufacturers business marketplace has been a shaky environment for sellers. 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 mufflers and exhaust systems wholesale and manufacturers business during challenging economic times.
The process of selling a mufflers and exhaust systems wholesale and manufacturers business can be one of the most stressful experiences of your entrepreneurial career.
If your exit strategy involves selling a mufflers and exhaust systems wholesale and manufacturers business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some mufflers and exhaust systems wholesale and manufacturers business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your mufflers and exhaust systems wholesale and manufacturers business. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your mufflers and exhaust systems wholesale and manufacturers business until the prospect has been qualified as a serious buyer.
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