December 7, 2019  
 
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Selling an Auto Manuals Business

Selling an auto manuals business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.

In a down economy, many auto manuals 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 auto manuals businesses that are actually for sale.
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Many business owners don't know that auto manuals businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Pre-Sale Checklist

There is a lot of work that needs to be done before you're ready to sell your auto manuals business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

Seller Concessions

Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.

Adjusting Expectations

Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. In the event that the sale fails to meet your expectations, you may want to consider taking the business off the market until you can grow it enough to achieve your desired sale price.

More Exit Planning Articles

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

How Much Is My Business Worth?

Marketing an Auto Manuals Business

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