Smart Exit Planning Strategies for Niche Markets
Selling a Gas Engines Service and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet gas engines service and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
You won't find any magic formulas for selling a gas engines service and repair business, especially while the market is struggling to overcome the perceptions created by a down economy.
At Gaebler, we're seeing gas engines service and repair business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Leveraging Industry Connections
Today's gas engines service and repair business buyers can be found in a variety of locations. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. More focused prospects are typically found within industry networks. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Average Preparation Time
It's critical to properly plan for the sale ofa gas engines service and repair business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey gas engines service and repair business operation. Since all of this takes time and effort, a gas engines service and repair business can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a gas engines service and repair business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Share this article
Additional Resources for Entrepreneurs