Exit Planning Techniques By Market
Selling a Forklift and Industrial Truck Dealers Business
The decision to sell your forklift and industrial truck dealers business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a forklift and industrial truck dealers business up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on forklift and industrial truck dealers businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Leveraging Seller Concessions
It's becoming more difficult to sell a forklift and industrial truck dealers business without considering seller concessions. The most common seller concession is seller financing. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Hiring an Attorney
It pays to invest in first-rate legal counsel when you sell a forklift and industrial truck dealers business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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