April 3, 2020  
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Selling a Company


Selling an Outboard Motors Retail Business

Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet outboard motors retail businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.

In a down economy, many outboard motors retail business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of outboard motors retail businesses that are actually for sale.
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Despite the conventional wisdom, we believe current economic conditions are right for selling an outboard motors retail business. Here's how to do it . . .

Timing Your outboard motors retail business Sale

Most business owners know when it's time to exit their company. Opinions are mixed and some consultants are advising outboard motors retail business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the outboard motors retail business marketplace. The inventory of what we consider to be quality outboard motors retail businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

Seller Financing

The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized outboard motors retail 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.

Sale Documents

In an outboard motors retail business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.

More Info on Business Transitions and Related Articles

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

Marketing an Outboard Motors Retail Business

How to Sell a Business

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