In a down economy, many antifreeze business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of antifreeze businesses that are actually for sale.
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Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a antifreeze business.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions antifreeze business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Average Preparation Time
Preparing an antifreeze business sale takes time. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a antifreeze business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
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