Business Exit Planning
Selling a Mobile Office and Commercial Unit Rental Business
Don't believe anyone who tells you it's easy to sell a mobile office and commercial unit rental business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Despite the conventional wisdom, we believe current economic conditions are right for selling a mobile office and commercial unit rental business. We'll tell you what you need to know to achieve a successful sale outcome
The Case for Confidentiality
Highly publicized mobile office and commercial unit rental business sales are risky mobile office and commercial unit rental businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Average Preparation Time
There are no effective shortcuts for selling a mobile office and commercial unit rental business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a mobile office and commercial unit rental business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Legal Concerns
We run into a lot of mobile office and commercial unit rental business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. 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.
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