Exit Planning Advice By Market
Selling an Auto Floor Coverings Business
You've invested time, effort, and creativity into building your auto floor coverings business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
The auto floor coverings business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
There is no simple way to sell a business. But the most prepared auto floor coverings business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
How to Identify Prospective Buyers
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. 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. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your auto floor coverings business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your auto floor coverings business until the prospect has been qualified as a serious buyer.
Working with Accountants
Professional accountants lend credibility to the financial preparation of an auto floor coverings business sale. Most auto floor coverings business have significant tax consequences requiring the input of a qualified accountant. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
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