Business Exits By Industry
Selling a Chrome Business
For the right sellers, the business-for-sale marketplace is a friendly environment for chrome business opportunities. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You need to get a good price for your chrome business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Despite the conventional wisdom, we believe current economic conditions are right for selling a chrome business. Here's how to do it . . .
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 chrome 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.
Average Preparation Time
It's critical to properly plan for the sale ofa chrome business. For starters, the financials need to demonstrate a track record of profitability and growth. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. At a minimum, plan on spending six months preparing your chrome business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Sale Documents
In a chrome 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. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your chrome business may be a waste of time.
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