November 13, 2019  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Selling a Company

 

Selling an Auto Customizing, Conversion, and Restoration Business

You've heard the naysayers - now isn't the time to sell a auto customizing and restoration business. But what they don't know is that many entrepreneurs see auto customizing, conversion, and restoration businesses as a smart business investment.

Cutting corners never pays off, especially in the sale of an auto customizing and restoration business.
(article continues below)

In today's market, there is still plenty of room for auto customizing, conversion, and restoration businesses that demonstrate solid earning capacity and a robust market position.

Preparing for What's Next

What will happen if your auto customizing and restoration business is a success? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.

Equipment and Inventory Concerns

It's incumbent on buyers to commission their own appraisal of your auto customizing and restoration business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

Legal Concerns

A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your auto customizing and restoration business may be a waste of time.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in auto customizing, conversion, and restoration businesses, you might find these additional resources to be of interest.

Marketing an Auto Customizing, Conversion, and Restoration Business

Selling Part of a Business

What Does a Business Broker Charge?

How to Sell a Business


Conversation Board

Do you have any more tips on how to sell an auto customizing and restoration business? If so, submit your comments and suggestions so other entrepreneurs can learn from your experience.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Hoping to Open an Auto Customizing, Conversion, & Restoration Business?

If you plan on opening an auto customizing and restoration business, these helpul resources may be just what you've been looking for:

Opening an Auto Customizing, Conversion, & Restoration Business

Do You Market Products or Services to Auto Customizing and Restoration Businesses?

If you consider auto customizing, conversion, and restoration businesses to be sales prospects, this isn't the best resource for you on our site. Try these useful resources instead:

Selling to Auto Customizing, Conversion, and Restoration Businesses

Mailing Lists for Auto Customizing, Conversion, and Restoration Businesses

More Business Transfer Information

If you are eager to get business succession tips for a different industry, please browse our alphabetical list exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary