Business Exit Planning
Selling a Marine Refrigeration and Air Conditioning Sales and Service Business
No one said selling your business in a depressed economy would be easy. Fortunately, a marine refrigeration and air conditioning sales and service business sale isn't as scary as it seems.
In a down economy, many marine refrigeration and air conditioning sales and service business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of marine refrigeration and air conditioning sales and service businesses that are actually for sale.
Yet everyday, hundreds of listed marine refrigeration and air conditioning sales and service businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Sale Documents
In a marine refrigeration and air conditioning sales and service business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
What to Expect in a Marine Refrigeration & Air Conditioning Sales & Service Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your marine refrigeration and air conditioning sales and service business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a marine refrigeration and air conditioning sales and service business sale by setting realistic expectations before you list your business.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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