Niche Market Exit Planning Tips
Selling a Boat Builders and Wholesalers Business
Is the economy still a little shaky for a business sale? Sure it is. Yet boat builders and wholesalers businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Market timing is a constantly moving target. So if you're waiting for the perfect market conditions to sell your boat builders and wholesalers business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your boat builders and wholesalers business to today's buyers.
Current Market Conditions
No one plans to sell a boat builders and wholesalers 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. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a boat builders and wholesalers business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
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.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Share this article
Additional Resources for Entrepreneurs