Advice on Niche Market Exit Planning
Selling a Tank Equipment Business
It's a misconception that no one is buying tank equipment businesses these days. Savvy entrepreneurs see tank equipment business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Today's tank equipment business buyers tend to be more skeptical than most about the nation's economic outlook.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a tank equipment business, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Preparing for What's Next
The decision to sell your tank equipment 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. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your tank equipment business attractive to buyers.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
How to Increase Sale Price
There are no simple ways to sell a tank equipment business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
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