Mastering Niche Market Exit Planning
Selling a New and Used Auto Body Parts Business
The decision to sell your new and used auto body parts business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a new and used auto body parts business sale works.
Does that mean selling your new and used auto body parts business will be a piece of cake? No -- but you might be surprised to learn that the new and used auto body parts businesses that are selling these days are finding success though simple, common sense selling strategies.
Sale Documents
In a new and used auto body parts business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your new and used auto body parts business may be a waste of time.
Sweetening the Deal
Today's new and used auto body parts 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. If you aren't familiar with typical new and used auto body parts business concessions, consult with a professional to learn how you can build incentives into your deal.
Average Timeframes
Hoping for a quick new and used auto body parts business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a new and used auto body parts business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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