Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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There is no simple way to sell a business. But the most prepared freight forwarding business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Sweetening the Deal
Today's freight forwarding business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young freight forwarding business owner, they can be critical launching points for their ownership journey.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a freight forwarding business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your freight forwarding business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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