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Selling a Consumer Audiovisual Equipment Rental and Leasing Business
Don't believe anyone who tells you it's easy to sell a consumer audiovisual equipment rental and leasing business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
You won't find any magic formulas for selling a consumer audiovisual equipment rental and leasing business, especially while the market is struggling to overcome the perceptions created by a down economy.
If you're ready to move on, now is the right time to sell your consumer audiovisual equipment rental and leasing business.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your consumer audiovisual equipment rental and leasing business, it's likely that you will be the front line negotiator. A solo negotiation is a surefire way to may a tough job even tougher. 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.
Sale Preparation Timeframes
It's critical to properly plan for the sale ofa consumer audiovisual equipment rental and leasing business. For starters, the financials need to demonstrate a track record of profitability and growth. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a consumer audiovisual equipment rental and leasing business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Selecting a Broker
Good business brokers inevitably produce better business sales. No two consumer audiovisual equipment rental and leasing business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
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