Sell a Business Tips
Selling a Storage Racks Business
Despite the pessimistic mood of many sellers, your storage racks business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a storage racks business, capital restrictions are holding them back.
Many business owners don't know that storage racks businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your storage racks business. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
Finding Storage Racks Business Buyers
Buyers of storage racks businesses run the gamut. Some are seasoned storage racks business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Preparing for What's Next
The decision to sell your storage racks business can't be made without adequate consideration of what will happen after the sale. 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. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
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