Exit Planning Advice By Market
Selling an Auto Hand and Foot Controls Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your auto hand and foot controls business.
Dire economic forecasts have forced many auto hand and foot controls business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Undaunted by economic conditions, many auto hand and foot controls business sellers are achieving their sale goals through deliberate sale strategies.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Advantages of Hiring a Broker
Brokers give auto hand and foot controls business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Setting the Stage
Effective auto hand and foot controls business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium auto hand and foot controls business opportunity.
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