Business Exits By Industry
Selling a Concessionaires Business
Think concessionaires business sales have dwindled to a standstill? Think again. 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've invested too much in your concessionaires business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
To sell a concessionaires business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Brokerage Benefits
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the concessionaires business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Economic Considerations
When you sell a concessionaires business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your concessionaires business will be on the market as well as its sales price. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a concessionaires business. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a concessionaires business, successful sales sales often boil down to the business itself - not the economy.
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