Exit Planning Advice By Market
Selling an Auto Machine Shop Equipment and Supplies Business
For the right sellers, the business-for-sale marketplace is a friendly environment for auto machine shop equipment and supplies business opportunities. Here's what you need to know to get a fair price for your company.
It's a fact: Successful business sales take time.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your auto machine shop equipment and supplies business can be sold at or above fair market value right now.
Laying the Groundwork
Effective auto machine shop equipment and supplies 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. Financial statements, appraisals, operations manuals and other documents lay the foundation for your auto machine shop equipment and supplies business sale, creating incentives for prospects to agree to a higher asking price.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Sweetening the Deal
Today's auto machine shop equipment and supplies business buyers expect sellers to offer concessions to persuade them to close the deal. 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young auto machine shop equipment and supplies business owner, they can be critical launching points for their ownership journey.
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