Selling a Company Advice
Selling a Used Lawn Mowers Business
When it's time to sell your used lawn mowers business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
With planning and patience, most used lawn mowers businesses can be sold for a fair price in the current business-for-sale marketplace.
In order to market a used lawn mowers business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
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.
Selling a Used Lawn Mowers Business to an Employee
There are both benefits and drawbacks to selling a used lawn mowers business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your used lawn mowers business, a sale to an employee is probably not a possibility.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful used lawn mowers business sales. Take our word for it -- used lawn mowers businesses are unique businesses and you need a broker who understands how to properly market your used lawn mowers business to prospective buyers. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
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