Smart Exit Planning Strategies for Niche Markets
Selling a Gas Engines Business
Looking for shortcuts? You won't find them when you sell a gas engines business. In this industry, a business sale takes time, effort and dedication. 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.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
To achieve your goals, you'll need to know the market as well as key business selling techniques. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your gas engines business. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your gas engines business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
What to Expect in a Gas Engines Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your gas engines business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a gas engines business sale by setting realistic expectations before you list your business.
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