Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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But they're also savvy enough to know a good deal when they see it. So for car storage business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Tips for Seller Financing
Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized car storage 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 car storage business, expect to be asked to finance a substantial part of the sale price.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a car storage business up for sale. Although the economy is generally struggling, low interest rates make car storage businesses more attractive to entrepreneurs who want to get in the game. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
How to Increase Sale Price
There are no simple ways to sell a car storage business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their car storage businesses.
Given your interest in exit planning and in car storage businesses, you might find these additional resources to be of interest.
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