A business exit is always a trying experience. But when you need to sell your auto service and repair consultants business in a depressed economy, the challenges can seem insurmountable.
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Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a auto service and repair consultants business sale. To improve sale outcomes, you will simply need to tailor your auto service and repair consultants business to today's buyers.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized auto service and repair consultants business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Current Market Conditions
Today's auto service and repair consultants business sellers face an intimidating economic landscape. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of auto service and repair consultants businesses waiting to be listed until the economy rebounds. When that happens, the buyers' market will become even stronger and have a negative impact on prices. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your auto service and repair consultants business as attractive as possible so to buyers right now.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. 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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