How to Sell a Niche Market Business
Selling an Exempt Commodity Trucking Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
In any economy, there is a right way and a wrong way to sell a business.
Despite the conventional wisdom, we believe current economic conditions are right for selling an exempt commodity trucking business. With the right information and strategy, you could be well on your way to a successful sale
Working with Accountants
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 certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Current Market Conditions
No one plans to sell an exempt commodity trucking business in a down economy. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your exempt commodity trucking business as attractive as possible so to buyers right now.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your exempt commodity trucking business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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