January 22, 2021  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Selling a Company

 

Selling a Corrosion Control Business

Unfortunately, many sellers are waiting to list their corrosion control businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, corrosion control businesses are a great investment.

In a down economy, many corrosion control business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of corrosion control businesses that are actually for sale.
(article continues below)

Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to corrosion control businesses that exhibit strong financials and potential for future growth.

Maximizing Sales Price

There are no simple ways to sell a corrosion control business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. 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. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their corrosion control businesses.

Dealing with Tire Kickers

Unfortunately, many of the prospects you will encounter aren't serious buyers. 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. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.

How to Identify Prospective Buyers

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Five Tips for Maximizing Your Business Sale Price

Marketing a Corrosion Control Business

Renewing Leases Prior to Selling a Business


Conversation Board

Selling a corrosion control business is a complex topic, so there's still much more that can be discussed. We welcome your questions, comments and feedback about this topic.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Do You Plan on Starting a Corrosion Control Business Soon?

If you plan on opening a corrosion control business, these guides will help you get started:

Starting a Corrosion Control Business

Looking for Corrosion Control Business Customers?

If you consider corrosion control businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:

Selling to Corrosion Control Businesses

Mailing Lists for Corrosion Control Businesses

More Business Sale Guides

If you are eager to get business succession tips for a different industry, please browse our list of exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary