Niche Exit Planning Strategies
Selling a Dairy Equipment Repair Business
We hear from a lot of business owners who are timid about listing their dairy equipment repair business. Despite the mood of the market, we think there are still opportunities to receive a good price for your dairy equipment repair business. Here's what you need to know . . .
Personal and professional concerns surround the sale of a dairy equipment repair business. In our experience, a common owner concern is how the sale will affect customers and employees.
In order to market a dairy equipment repair business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a dairy equipment repair business sale. Before your dairy equipment repair business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your dairy equipment repair business. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your dairy equipment repair business during their initial inquires. Avoid releasing details about your dairy equipment repair business until you have established that they have the financial capacity to make a legitimate offer.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your dairy equipment repair business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Share this article
Additional Resources for Entrepreneurs