Profitable Niche Market Exit Plans
Selling an Office Furniture and Equipment Rental and Leasing Business
The decision to sell your office furniture and equipment rental and leasing business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Selling an office furniture and equipment rental and leasing business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
Renting office furniture to businesses in transition can be a lucrative business.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Preparing for What's Next
The decision to sell your office furniture and equipment rental and leasing business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your office furniture and equipment rental and leasing business. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your office furniture and equipment rental and leasing business attractive to buyers.
Advantages of Hiring a Broker
Brokers give office furniture and equipment rental and leasing business sellers distinct advantages in the marketplace. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
It's incumbent on buyers to commission their own appraisal of your office furniture and equipment rental and leasing 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. A pre-listing appraisal also gives you the opportunity to document the condition of your office furniture and equipment rental and leasing business's assets and possible even make repairs or upgrades to increase the total value of the operation.
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