Business Exit Planning
Selling a Mobile Home Rental and Leasing Business
The decision to sell your mobile home rental and leasing business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Too often mobile home rental and leasing business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your mobile home rental and leasing business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the mobile home rental and leasing business to gain an objective sense of fair market value.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A key employee may seem like a natural sales prospect. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based mobile home rental and leasing business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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