Business Exits By Industry
Selling a Commercial Van Conversion Business
Over the past few years, the commercial van conversion business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a commercial van conversion business during challenging economic times.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a commercial van conversion business.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a commercial van conversion business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your commercial van conversion business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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.
Sale Preparation Timeframes
Preparing a commercial van conversion business sale takes time. For starters, the financials need to demonstrate a track record of profitability and growth. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey commercial van conversion business operation. Since all of this takes time and effort, a commercial van conversion business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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