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Selling a Crane and Derrick Dealers Business
With the economy limping along, many crane and derrick dealers business owners are hesitant to put their businesses on the market. At Gaebler, we think it's a great time to sell a crane and derrick dealers business. Here's why . . ..
Selling a crane and derrick dealers business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions crane and derrick dealers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. If due diligence drags on too long, your broker may need to intervene.
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.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. It's typical for crane and derrick dealers business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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