Exit Planning Tips
Selling a Heating Equipment and Systems Dealers Business
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a heating equipment and systems dealers business sale isn't as scary as it seems.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a heating equipment and systems dealers business sale works.
However, serious buyers also understand the value of a good heating equipment and systems dealers business. Financial statements and ROI are essential in converting modern heating equipment and systems dealers business prospects into buyers.
Working with Appraisers
An experienced appraiser is part and parcel of a successful heating equipment and systems dealers business sale. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized heating equipment and systems dealers business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Preparing Family Members
Many sellers embarked on their heating equipment and systems dealers business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the heating equipment and systems dealers business. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. To keep the family intact, the sale of a heating equipment and systems dealers business should allow opportunities for all family members to share their feelings and offer input about the sale process.
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