Exit Planning Advice By Market
Selling an Auto Transport Business
No one said selling your business in a depressed economy would be easy. Fortunately, a auto transport business sale isn't as scary as it seems.
The auto transport business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
The economy hasn't squashed the market for auto transport businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Timing Your auto transport business Sale
If you're feeling like your tenure as the owner of the auto transport business is coming to an end, the time to sell is now. Some experts are telling auto transport business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the auto transport business marketplace. The inventory of what we consider to be quality auto transport businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Why Confidentiality Matters
Highly publicized auto transport business sales are risky auto transport businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable auto transport business can be reduced to one that is struggling to survive. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential auto transport business sale.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of an auto transport 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. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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