Advice on Niche Market Exit Planning
Selling a Tractors Rental and Leasing Business
With the economy limping along, many tractors rental and leasing business owners are hesitant to put their businesses on the market. At Gaebler, we think it's a great time to sell a tractors rental and leasing business. Here's why . . ..
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a tractors rental and leasing business sale works.
But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your tractors rental and leasing business.
Sale Documents
In a tractors rental and leasing business 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.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Before You Sell
The upfront time you investment in the sale of your tractors rental and leasing business will pay big dividends at closing. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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