Sell a Business Tips
Selling a Specialty Movers Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, specialty movers businesses haven't heard the news and are reporting steady action on the business-for-sale market.
The decision to sell a specialty movers business is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
If your exit strategy involves selling a specialty movers business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Post-Sale Details
The way you exit your specialty movers business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Finding Prospects
Whether you know it or not, prospective buyers for your specialty movers business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood specialty movers business sellers with questions and requests, often to the point of becoming a nuisance. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
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