Optimizing Business Exits
Selling a Railroad Cars Service and Repair Business
Don't believe anyone who tells you it's easy to sell a railroad cars service and repair 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.
You need to get a good price for your railroad cars service and repair business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a railroad cars service and repair business. Here's how to do it . . .
Finding Railroad Cars Service & Repair Business Buyers
It's difficult to predict where the buyer of your railroad cars service and repair business will come from. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. networking may also prove to be a valuable resource for identifying prospective buyers, but only to the extent that it can be done discreetly.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Moving On
So you've decided to sell your railroad cars service and repair business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
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