Niche Exit Planning Strategies

Selling a Drilling and Boring Equipment and Supplies Business

Is the economy still a little shaky for a business sale? Sure it is. Yet drilling and boring equipment and supplies businesses haven't been deterred. In fact, we think this economy is a ripe environment for a drilling and boring equipment and supplies business sale.

In a down economy, many drilling and boring equipment and supplies 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 drilling and boring equipment and supplies businesses that are actually for sale.

Many business owners don't know that drilling and boring equipment and supplies businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Maximizing Sales Price

There are no simple ways to sell a drilling and boring equipment and supplies 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 drilling and boring equipment and supplies businesses.

Setting the Stage

In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. Professional business brokers understand buyers and know how to properly communicate a drilling and boring equipment and supplies business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your drilling and boring equipment and supplies business on the market.

Selling a Drilling & Boring Equipment & Supplies Business to an Employee

Although it may seem easier to sell your drilling and boring equipment and supplies business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.

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