Niche Market Exit Planning Tips
Selling a Brakes Service and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet brakes service and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Selling a brakes service and repair business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
There is no simple way to sell a business. But the most prepared brakes service and repair business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. 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.
Timing the Market
Now may be the best time to sell a brakes service and repair business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on brakes service and repair businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Maximizing Sales Price
There are no simple ways to sell a brakes service and repair business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their brakes service and repair businesses.
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