Sell a Business for the Best Price
Selling a Portable Stages and Platforms Business
Your portable stages and platforms business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Today's portable stages and platforms business buyers tend to be more skeptical than most about the nation's economic outlook.
The economy hasn't squashed the market for portable stages and platforms businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Sale Documents
In a portable stages and platforms business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. 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.
Seller Financing
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy portable stages and platforms businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your portable stages and platforms business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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