Business Exit Planning
Selling a Marine Engines and Drive Trains Repair Business
We hear from a lot of business owners who are timid about listing their marine engines and drive trains repair business. Despite the mood of the market, we think there are still opportunities to receive a good price for your marine engines and drive trains repair business. Here's what you need to know . . .
Selling a marine engines and drive trains repair business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
There are still plenty of marine engines and drive trains repair business buyers looking for opportunities that present well in the marketplace.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a marine engines and drive trains repair business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Valuation Methods
The methods for valuing a marine engines and drive trains repair business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your marine engines and drive trains repair business based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
What to Expect in a Marine Engines & Drive Trains Repair Business Sale
The sale of a marine engines and drive trains repair business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
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