Advice on Niche Market Exit Planning
Selling a Truck Leasing Business
Many business leaders say that now isn't the time to try to sell a truck leasing business. At Gaebler, we think it's a great time to sell a truck leasing business. Here's why . . ..
You won't find any magic formulas for selling a truck leasing business, especially while the market is struggling to overcome the perceptions created by a down economy.
If your exit strategy involves selling a truck leasing business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium truck leasing business opportunity.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions truck leasing business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Broker vs. No Broker
When selling a truck leasing business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your truck leasing business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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