Sell a Business Tips
Selling a Shipyard
The decision to sell your shipyard isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
If your exit strategy involves selling a shipyard in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your shipyard. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your shipyard until the prospect has been qualified as a serious buyer.
Timing Your shipyard Sale
Most business owners know when it's time to exit their company. Some experts are telling shipyard sellers (or would-be sellers) to take a wait and see approach. At Gaebler, we have a much more optimistic view of your chances in the shipyard-for-sale market. The inventory of what we consider to be quality shipyards is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Sale Documents
In a shipyard 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.
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