Business Exit Planning
Selling a Marine Electronics Retail Business
Selling a marine electronics retail business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
The economy isn't the only thing that is uncertain these days. So are marine electronics retail business buyers, many of whom are waiting to pull the trigger on their next acquisition.
At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your marine electronics retail business on the market.
Seller Financing
Business buyers are in a capital crunch. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy marine electronics retail businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Preparing Your Marine Electronics Retail Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful marine electronics retail business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your marine electronics retail business, the amount of preparation you perform will have direct correlation on asking and sale prices. 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.
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