Sell a Business Tips
Selling a Sign Rental Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a sign rental business sale isn't as scary as it seems.
Despite your best intentions, great business sales don't happen overnight.
Undaunted by economic conditions, many sign rental business sellers are achieving their sale goals through deliberate sale strategies.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your sign rental business. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
How Much Does It Cost to Sell a sign rental business?
In a sign 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 sign rental business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
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