September 21, 2020  
 
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How to Sell to a Business

 

Selling a Used Buses Business

Your used buses business has been good to you. Now the trick is to convince cautious buyers that your operation is worth the asking price.

Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a used buses business sale works.
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Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your used buses business in a way that achieves positive outcomes for you and the business.

Working with Appraisers

There is no substitute for a qualified appraisal in the sale of your used buses business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.

Preparing Family Members

Many sellers embarked on their used buses business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the used buses business. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a used buses business often begins with a family conversation and a mutual decision to move on the next stage of life.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Used Buses Business

Role of Location In Selling a Business

Family Business Exit Plans

Pros and Cons of Using Business Brokers


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