You need to get a good price for your personal watercraft sales and rental business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a personal watercraft sales and rental business. With the right information and strategy, you could be well on your way to a successful sale
Leveraging Seller Concessions
It's becoming more difficult to sell a personal watercraft sales and rental business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your personal watercraft sales and rental business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your personal watercraft sales and rental 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 personal watercraft sales and rental business, you can avoid painful tax and legal complications both before and after closing.
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