Business Exits By Industry
Selling a Contractors' Equipment and Supplies Rental and Leasing Business
You've heard the naysayers - now isn't the time to sell a contractors' equipment and supplies rental and leasing business. But what they don't know is that many entrepreneurs see contractors' equipment and supplies rental and leasing businesses as a smart business investment.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
But they're also savvy enough to know a good deal when they see it. Financial statements and ROI are essential in converting modern contractors' equipment and supplies rental and leasing business prospects into buyers.
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. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. 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 contractors' equipment and supplies rental and leasing 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.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. 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.
Share this article
Additional Resources for Entrepreneurs