You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an aircraft support equipment and service business.
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Too often aircraft support equipment and service business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling an aircraft support equipment and service business often begins with a family conversation and a mutual decision to move on the next stage of life.
How Much Does It Cost to Sell an aircraft support equipment and service business?
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your aircraft support equipment and service business. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of an aircraft support equipment and service business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions aircraft support equipment and service 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. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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