Advice on Niche Market Exit Planning
Selling a Truck Trailer Parking and Storage Business
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But truck trailer parking and storage businesses haven't been deterred. In fact, we think this economy is a ripe environment for a truck trailer parking and storage business sale.
According to the experts, there is currently a large volume of shadow inventory in the truck trailer parking and storage business market -- businesses that are waiting to be listed until the economy recovers.
But the good news is that there is still demand for truck trailer parking and storage businesses that present well and offer solid earning potential.
Average Preparation Time
It's critical to properly plan for the sale ofa truck trailer parking and storage business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your truck trailer parking and storage business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Broker vs. No Broker
When selling a truck trailer parking and storage business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your truck trailer parking and storage business sits on the market. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your truck trailer parking and storage business on BizBuySell.com and other popular online business-for-sale listing sites.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your truck trailer parking and storage business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your truck trailer parking and storage business until the prospect has been qualified as a serious buyer.
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