Exit Planning Tips

Selling a Hoisting and Rigging Equipment Dealers Business

Is the economy still a little shaky for a business sale? Sure it is. Yet hoisting and rigging equipment dealers businesses haven't heard the news and are reporting steady action on the business-for-sale market.

Selling a hoisting and rigging equipment dealers business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.

If your exit strategy involves selling a hoisting and rigging equipment dealers business now, sellers need to make a strong case for buyers to purchase at or near the asking price.

Leveraging Seller Concessions

Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.

Working with a Professional Accountant

Accountants lay the financial groundwork for a business sale. Most hoisting and rigging equipment dealers business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.

Understanding Market Timing

Now may be the best time to sell a hoisting and rigging equipment dealers business. With interest rates at all-time lows, it's easy to see why hoisting and rigging equipment dealers businesses are an appealing investment opportunity for savvy investors. Sooner or later, rates will rise, increasing the risk for prospective buyers of hoisting and rigging equipment dealers businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.

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