September 30, 2020  
 
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Selling a Company

 

Selling a Hoisting and Rigging Equipment Rental Business

The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But hoisting and rigging equipment rental businesses haven't heard the news and are reporting steady action on the business-for-sale market.

The economy isn't the only thing that is uncertain these days. So are hoisting and rigging equipment rental business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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Most hoisting and rigging equipment rental businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.

Sale Costs

In a hoisting and rigging equipment rental business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a hoisting and rigging equipment rental business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.

Preparing for What's Next

The decision to sell your hoisting and rigging equipment rental business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.

How to Skillfully Address Buyer Concerns

Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in hoisting and rigging equipment rental businesses, you might find these additional resources to be of interest.

Why Most Businesses Do Not Have Exit Plans

Marketing a Hoisting and Rigging Equipment Rental Business

Terms of Investment Banking Agreement


Conversation Board

Sometimes the best tips on selling a business come from other business owners. If you have any tips or advice on how to sell a hoisting and rigging equipment rental business, we invite you to submit your comments and suggestions.


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