Niche Market Exit Planning Tips
Selling a Battery Supplies Business
Most businesses are susceptible to economic conditions and battery supplies businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
Dire economic forecasts have forced many battery supplies business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your battery supplies business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. You just need to know your buyers and structure the deal accordingly.
What to Expect in a Battery Supplies Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your battery supplies business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your battery supplies business on the market.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a battery supplies business sale. Most battery supplies 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. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized battery supplies business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your battery supplies business, expect to be asked to finance a substantial part of the sale price.
Share this article
Additional Resources for Entrepreneurs