Dire economic forecasts have forced many cold storage equipment and supplies business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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If you're ready to move on, now is the right time to sell your cold storage equipment and supplies business.
Broker vs. No Broker
When selling a cold storage equipment and supplies business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a cold storage equipment and supplies business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Family Business Sale Tips
There is no easy way to sell a cold storage equipment and supplies business, not even to a family member. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Factoring In Economic Variables
Think a cold storage equipment and supplies business sale is simple? Think again. Interest rates, spending, inflation, and other variables directly influence how long your cold storage equipment and supplies business will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. In our experience, the most important factors in the sale of a cold storage equipment and supplies business have little to do with the economy.
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