Niche Market Exit Planning Tips
Selling a Buses Service and Repair Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your buses service and repair business.
The economy isn't the only thing that is uncertain these days. So are buses service and repair business buyers, many of whom are waiting to pull the trigger on their next acquisition.
The economy hasn't squashed the market for buses service and repair businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your buses service and repair business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your buses service and repair business until the prospect has been qualified as a serious buyer.
In a buses service and repair business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Sale Preparations for Your Buses Service & Repair Business
The outcome of a business sale is largely determined prior to a market listing. Profitable buses service and repair business listings are the culmination of a preparation process that began months or even years ahead of time. Even though it may take years to adequately position your buses service and repair business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Share this article
Additional Resources for Entrepreneurs