You need to get a good price for your irrigation equipment leasing business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your irrigation equipment leasing business in a way that achieves positive outcomes for you and the business.
Pros & Cons of a Sale to an Employee
Although it may seem easier to sell your irrigation equipment leasing business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your irrigation equipment leasing business, a sale to an employee is probably not a possibility.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. A professional audit can ease buyer concerns and amp up the value of your financial presentation. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Laying the Groundwork
Effective irrigation equipment leasing business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium irrigation equipment leasing business opportunity.
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