Business Exit Planning
Selling a Marine Transportation Consultants Business
You've invested time, effort, and creativity into building your marine transportation consultants business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a marine transportation consultants business, capital restrictions are holding them back.
Although it takes hard work and dedication, if it's time to exit your marine transportation consultants business there is a good chance you can sell it for a good price -- even in today's market.
Seller Financing
Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized marine transportation consultants business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your marine transportation consultants business, expect to be asked to finance a substantial part of the sale price.
Sale Documents
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Moving On
What will happen if your marine transportation consultants business is a success? 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.
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