Sell a Business Tips
Selling a Ship Building and Repair Business
No one said selling your business in a depressed economy would be easy. Fortunately, a ship building and repair business sale isn't as scary as it seems.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a ship building and repair business.
You'll always have an excuse for not putting your business on the market. Selling a ship building and repair business isn't easy, but we believe sellers can achieve their goals in any economic environment.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your ship building and repair business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
Leveraging External Resources
Rarely, if ever, do owners sell a ship building and repair business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your ship building and repair business, you can avoid painful tax and legal complications both before and after closing.
Negotiation Teams
It's not unusual for ship building and repair business sellers to feel overwhelmed when they negotiate the sale of their business. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. Good negotiation teams support sellers, giving them insight and advice about how to overcome buyer objections and drive the process forward to a successful conclusion.
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