Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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Despite the conventional wisdom, we believe current economic conditions are right for selling an airport equipment and supply business. Here's how to do it . . .
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based airport equipment and supply business sale can be more complicated than selling to a stranger. In fact, selling your airport equipment and supply business to a family member can quickly become a no-win proposition. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the airport equipment and supply business is coming to an end, the time to sell is now. Some experts are telling airport equipment and supply business owners to wait for a better economy to put their business on the market. We aren't nearly as pessimistic about the airport equipment and supply business marketplace. The inventory of what we consider to be quality airport equipment and supply businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokers routinely work with airport equipment and supply business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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