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Selling a Construction Machinery and Equipment Dealers Business
Don't believe anyone who tells you it's easy to sell a construction machinery and equipment dealers business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Dire economic forecasts have forced many construction machinery and equipment dealers business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
More than a few construction machinery and equipment dealers business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
The Case for Confidentiality
Highly publicized construction machinery and equipment dealers business sales are risky construction machinery and equipment dealers businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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