Mastering Niche Market Exit Planning
Selling a New Auto Pre-Delivery Service Business
Think new auto pre-delivery service business sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
If your exit strategy involves selling a new auto pre-delivery service business now, you need to apply the right combination of preparation, strategy and common sense.
Closing Strategies
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young new auto pre-delivery service business owner, they can be critical launching points for their ownership journey.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some new auto pre-delivery service business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for new auto pre-delivery service businesses than other buyers.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a new auto pre-delivery service business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
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