Business Exit Planning
Selling a Mobile Home Parks Development and Construction Business
A good business is about more than dollars and sense. To make your mobile home parks development and construction business what it is today, you've had to fully invest yourself in its success. 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.
Selling a mobile home parks development and construction business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Qualified buyers are constantly looking for attractive mobile home parks development and construction businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Average Timeframes
Hoping for a quick mobile home parks development and construction business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a mobile home parks development and construction business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood mobile home parks development and construction business sellers with questions and requests, often to the point of becoming a nuisance. The questions mobile home parks development and construction business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Leveraging External Resources
Rarely, if ever, do owners sell a mobile home parks development and construction business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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