Exit Planning Advice By Market
Selling an Auto Paintless Dent Repair Business
The decision to sell your auto paintless dent repair business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You've invested too much in your auto paintless dent repair business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
But they're also savvy enough to know a good deal when they see it. So for auto paintless dent repair business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Laying the Groundwork
Effective auto paintless dent repair business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate an auto paintless dent repair business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your auto paintless dent repair business on the market.
A good broker can offer several benefits to business sellers. 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.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In an auto paintless dent repair business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
Share this article
Additional Resources for Entrepreneurs