Exit Planning Tips
Selling a Horseshoer's Equipment and Supplies Business
Although a horseshoer's equipment and supplies business may not be completely recession-proof, the best companies can survive nearly any storm. Now all you have to do is convince the right buyer that your business is built for long-term success.
Are most buyers timid about buying a horseshoer's equipment and supplies business in today's economic environment? You bet.
There is no simple way to sell a business. But the most prepared horseshoer's equipment and supplies business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your horseshoer's equipment and supplies business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Moving On
The decision to sell your horseshoer's equipment and supplies business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your horseshoer's equipment and supplies business until the prospect has been qualified as a serious buyer.
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