June 4, 2020  
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Selling a Company


Selling an Electric Heating Dealers Business

Looking for shortcuts? You won't find them when you sell an electric heating dealers business. In this industry, a business sale takes time, effort and dedication. We'll tell you how to thrive in the middle of it and get top dollar for your company.

Dire economic forecasts have forced many electric heating dealers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Growth-minded entrepreneurs also find an appealing electric heating dealers business hard to pass up. So for electric heating dealers business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Selling Time

From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their electric heating dealers business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your electric heating dealers business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.

Seller Financing

Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized electric heating dealers business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.

Leveraging External Resources

At some point, you're going to need help selling your electric heating dealers business. Although it's wise to recruit a business broker, brokerage isn't your only concern. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your electric heating dealers business, you can avoid painful tax and legal complications both before and after closing.

More Exit Planning Articles

Given your interest in exit planning and in electric heating dealers businesses, you might find these additional resources to be of interest.

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