Exit Planning Advice By Market
Selling an Auto Registration, Tags, and Titles Business
It's a misconception that no one is buying auto registration, tags, and titles businesses these days. Savvy entrepreneurs see auto registration, tags, and titles business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an auto registration, tags, and titles business.
If you're looking for a reason to wait to put your business on the market, you'll find it. Selling a auto registration, tags, and titles business isn't easy, but we believe sellers can achieve their goals in any economic environment.
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. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the auto registration, tags, and titles business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your auto registration, tags, and titles business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
How Much Does It Cost to Sell an auto registration, tags, and titles business?
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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