Business Exit Planning
Selling a Modular Offices Business
A lot can go wrong during the sale of a modular offices business in today's economy. We'll tell you how to keep your sale and your future plans on track.
When it comes to selling a modular offices business, there are no shortcuts to success.
Most modular offices businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Timing the Market
Now may be the best time to sell a modular offices business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on modular offices businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. At Gaebler, we recognize the value of timing the sale of your modular offices business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
Legal Concerns
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 . 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.
Closing Strategies
Today's modular offices business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. If you aren't familiar with typical modular offices business concessions, consult with a professional to learn how you can build incentives into your deal.
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