October 16, 2019  
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Selling a Business


Selling a Portable Spot Coolers Business

We hear from a lot of business owners who are timid about listing their portable spot coolers business. Despite the mood of the market, we think there are still opportunities to receive a good price for your portable spot coolers business. Here's what you need to know . . .

Personal and professional concerns surround the sale of a portable spot coolers business. But have you considered how your customers, vendors and employees will handle the sale?
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But they're also savvy enough to know a good deal when they see it. So for portable spot coolers business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Leveraging Seller Concessions

It's becoming more difficult to sell a portable spot coolers business without considering seller concessions. Not surprisingly, seller financing is routinely requested by today's buyers. 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.

How to Increase Sale Price

There are no simple ways to sell a portable spot coolers business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.

Preparing for What's Next

So you've decided to sell your portable spot coolers 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. 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 portable spot coolers business attractive to buyers.

More Exit Planning Articles

Given your interest in exit planning and in portable spot coolers businesses, you might find these additional resources to be of interest.

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What's your experience regarding how to sell a portable spot coolers business? We love to receive feedback from the industry and welcome your comments and questions.

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