Exit Planning Techniques By Market
Selling a Forklift and Industrial Truck Rental Business
Is the economy still a little shaky for a business sale? Sure it is. Yet forklift and industrial truck rental businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Like it or not, a forklift and industrial truck rental business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. In our experience, a common owner concern is how the sale will affect customers and employees.
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.
Pre-Sale Checklist
The upfront time you investment in the sale of your forklift and industrial truck rental business will pay big dividends at closing. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Should I Hire a Business Broker?
When selling a forklift and industrial truck rental business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your forklift and industrial truck rental business sits on the market. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your forklift and industrial truck rental business on BizBuySell.com and other popular online business-for-sale listing sites.
Leveraging Seller Concessions
It's becoming more difficult to sell a forklift and industrial truck rental business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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