Exit Planning Tips
Selling a Hoisting and Rigging Equipment Repair Business
Despite the pessimistic mood of many sellers, your hoisting and rigging equipment repair business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a hoisting and rigging equipment repair business, capital restrictions are holding them back.
Despite the overall mood of the marketplace, hoisting and rigging equipment repair businesses are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
Broker vs. No Broker
When selling a hoisting and rigging equipment repair 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 hoisting and rigging equipment repair business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Sale Preparations for Your Hoisting & Rigging Equipment Repair Business
The outcome of a business sale is largely determined prior to a market listing. Profitable hoisting and rigging equipment repair business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your hoisting and rigging equipment repair business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Buyer Identification
It's difficult to predict where the buyer of your hoisting and rigging equipment repair business will come from. So you'll need to take a diverse approach to identifying prospective buyers. Many sellers achieve success by listing their hoisting and rigging equipment repair businesses in multiple channels. Networking is another useful tool in locating buyers. It might surprise you to learn how many hoisting and rigging equipment repair business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
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