You won't find any magic formulas for selling a buffing and polishing equipment and supplies business, especially while the market is struggling to overcome the perceptions created by a down economy.
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If you're ready to move on, now is the right time to sell your buffing and polishing equipment and supplies business.
Emotions run high during the sale of a buffing and polishing equipment and supplies business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful buffing and polishing equipment and supplies business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
As your buffing and polishing equipment and supplies businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized buffing and polishing equipment and supplies 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.
Given your interest in exit planning and in buffing and polishing equipment and supplies businesses, you might find these additional resources to be of interest.
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