Advice on Niche Market Exit Planning
Selling a Truck Insurance Commercial Business
Many business leaders say that now isn't the time to try to sell a truck insurance commercial business. At Gaebler, we think it's a great time to sell a truck insurance commercial business. Here's why . . ..
The buzz in the marketplace is that now isn't the right time to sell a truck insurance commercial business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a truck insurance commercial business.
Seller Financing
Business buyers are in a capital crunch. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Economic Considerations
When you sell a truck insurance commercial business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your truck insurance commercial business will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a truck insurance commercial business, successful sales sales often boil down to the business itself - not the economy.
Brokerage Benefits
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Second, a good business broker is a master at confidentiality locating truck insurance commercial business sale prospects and guiding sellers through negotiations. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
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