You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a trucks wholesale and manufacturers business.
(article continues below)
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to trucks wholesale and manufacturers businesses that exhibit strong financials and potential for future growth.
Hoping for a quick trucks wholesale and manufacturers 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 trucks wholesale and manufacturers business for sale and many sellers spend a year or more positioning their business to command a higher price. In a good market, an attractive trucks wholesale and manufacturers business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Working with Appraisers
An experienced appraiser is part and parcel of a successful trucks wholesale and manufacturers business sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Given your interest in exit planning and in trucks wholesale and manufacturers businesses, you might find these additional resources to be of interest.
If starting a trucks wholesale and manufacturers business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider trucks wholesale and manufacturers businesses to be sales prospects, there's more applicable information for you elsewhere on our site. Try these useful resources instead:
If you are eager to get business succession tips for a different industry, try our list of exit planning guides below.