Niche Exit Planning Strategies
Selling a Docks Business
There is a lot of confusion about the best way to sell a docks business even if the seller has previous business sales experience. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
The economy isn't the only thing that is uncertain these days. So are docks business buyers, many of whom are waiting to pull the trigger on their next acquisition.
At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your docks business on the market.
Preparing Family Members
Many sellers embarked on their docks business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. The decision to sell a docks business has to include ample communication and shared decision-making.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your docks business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Share this article
Additional Resources for Entrepreneurs