Advice on Niche Market Exit Planning
Selling a Timber Cruisers Business
The business-for-sale marketplace has experienced no shortage of uncertainty over the past several years. But timber cruisers businesses continue to sell at a brisk pace, regardless of the economy.
Today's timber cruisers business buyers tend to be more skeptical than most about the nation's economic outlook.
But at Gaebler, we see timber cruisers businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your timber cruisers business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized timber cruisers business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Preparing Your Timber Cruisers Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive timber cruisers business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your timber cruisers business, the amount of preparation you perform will have direct correlation on asking and sale prices. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
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