February 18, 2020  
 
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Selling an Import Business

No one said selling your business in a depressed economy would be easy. But selling your import business doesn't have to be as daunting as it sounds.

You need to get a good price for your import business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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However, serious buyers also understand the value of a good import business. To sell your import business, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.

Business Assets

It's incumbent on buyers to commission their own appraisal of your import business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your import business.

Sale Preparation Timeframes

There are no effective shortcuts for selling an import business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Unless you have already started planning for your import business sale, it's going to take at least six months to prepare your business. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.

Maximizing Sales Price

A successful import business requires an investment of both time and money. A business broker handles much of the legwork involved in the sale. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their import businesses.

More Info on Business Transitions and Related Articles

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

Marketing an Import Business

Selling Part of a Business

Pros and Cons of Using Business Brokers

What Does a Business Broker Charge?


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