Sell a Business for the Best Price
Selling a Paving Equipment Retail Business
Your paving equipment retail business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Today's paving equipment retail business buyers tend to be more skeptical than most about the nation's economic outlook.
More than a few paving equipment retail business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Preparing for What's Next
The decision to sell your paving equipment retail 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. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your paving equipment retail business attractive to buyers.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your paving equipment retail business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your paving equipment retail business.
Working with a Professional Accountant
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. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Share this article
Additional Resources for Entrepreneurs