Exit Planning Advice By Market
Selling an Auto Engine Balancing Business
Many business leaders say that now isn't the time to try to sell an auto engine balancing business. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your auto engine balancing business on the market.
Cutting corners never pays off, especially in the sale of an auto engine balancing business.
However, serious buyers also understand the value of a good auto engine balancing business. So for auto engine balancing business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Sweetening the Deal
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. If you aren't familiar with typical auto engine balancing business concessions, consult with a professional to learn how you can build incentives into your deal.
Sale Documents
We run into a lot of auto engine balancing business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Pre-Sale Checklist
The upfront time you investment in the sale of your auto engine balancing business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
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