Business Exits By Industry
Selling a Cargo Insurance Business
A good business is about more than dollars and sense. To make your cargo insurance business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
The cargo insurance business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your cargo insurance business can be sold at or above fair market value right now.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the cargo insurance business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Even if you hire a business broker to facilitate the sale of your cargo insurance business, it's likely that you will be the front line negotiator. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Average Preparation Time
It's critical to properly plan for the sale ofa cargo insurance business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your cargo insurance business for the marketplace. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
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