Niche Market Exit Planning Tips
Selling a Battery Rebuilding, Repairing, and Recharging Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet battery rebuilding, repairing, and recharging businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to battery rebuilding, repairing, and recharging businesses that exhibit strong financials and potential for future growth.
Should I Hire a Business Broker?
Anyone who has ever sold a battery rebuilding, repairing, and recharging business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your battery rebuilding, repairing, and recharging business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Pre-Sale Checklist
The pre-sale checklist for a battery rebuilding, repairing, and recharging business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized battery rebuilding, repairing, and recharging 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.
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