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Selling a Cranes and Derricks Service and Repair Business
Don't believe anyone who tells you it's easy to sell a cranes and derricks service and repair business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Are most buyers timid about buying a cranes and derricks service and repair business in today's economic environment? You bet.
If you're ready to move on, now is the right time to sell your cranes and derricks service and repair business.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the cranes and derricks service and repair business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling cranes and derricks service and repair businesses.
Valuation Methods
Professional appraisers can use three methods to determine the value ofa cranes and derricks service and repair business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Using recent cranes and derricks service and repair business sales as its foundation, the market method factors market conditions into the valuation process. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Finding Prospects
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. 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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