Business Exit Planning
Selling a Marine Equipment and Supplies Retail Business
Many business leaders say that now isn't the time to try to sell a marine equipment and supplies retail business. At Gaebler, we think it's a great time to sell a marine equipment and supplies retail business. Here's why . . ..
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized marine equipment and supplies retail business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
How to Choose a Business Broker
A good business broker is your best bet for a fast and profitable business sale. In the marine equipment and supplies retail business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling marine equipment and supplies retail businesses.
Laying the Groundwork
Effective marine equipment and supplies retail business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a marine equipment and supplies retail business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium marine equipment and supplies retail business opportunity.
Share this article
Additional Resources for Entrepreneurs