Smart Exit Planning Strategies for Niche Markets
Selling a Generator Rental and Leasing Business
You've heard the naysayers - now isn't the time to sell a generator rental and leasing business. But what they don't know is that many entrepreneurs see generator rental and leasing businesses as a smart business investment.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Most generator rental and leasing businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Business sellers walk a fine line when it comes to preparing their employees for a sale. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the generator rental and leasing business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
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