We Need to Sell Our Company

Selling a Yacht Service and Repair Business

With the economy limping along, many yacht service and repair business owners are hesitant to put their businesses on the market. But in reality, now may be the perfect time to sell a yacht service and repair business.

Personal and professional concerns surround the sale of a yacht service and repair business. In our experience, a common owner concern is how the sale will affect customers and employees.

But they're also savvy enough to know a good deal when they see it. So for yacht service and repair business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Negotiation 101

As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a yacht service and repair business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your yacht service and repair business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

Selecting a Broker

First-rate business brokers deliver prospects and profits to their clients. In the yacht service and repair business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling yacht service and repair businesses.

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