Business Exit Planning
Selling a Mats and Matting Rental Business
Your mats and matting rental business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. Now it's time to put that same kind of focus into selling it.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a mats and matting rental business.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a mats and matting rental business.
Sale Documents
In a mats and matting rental 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. 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.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your mats and matting rental business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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