Advice on Niche Market Exit Planning
Selling a Truck Trailer Dealership
Your truck trailer dealership is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Many business owners don't know that truck trailer dealerships are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. 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. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Legal Considerations
It pays to invest in first-rate legal counsel when you sell a truck trailer dealership. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Factoring In Economic Variables
When you sell a truck trailer dealership, there are a number of variables you need to consider. Many would-be sellers are laser-focused on economic indicators, anxiously awaiting the perfect time to list their companies. If you base the decision to sell your truck trailer dealership solely on the market, you may be in for a long wait. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. In our experience, the most important factors in the sale of a truck trailer dealership have little to do with the economy.
Share this article
Additional Resources for Entrepreneurs