Advice on Niche Market Exit Planning
Selling a Trenching Machines and Equipment Rental Business
Despite the pessimistic mood of many sellers, your trenching machines and equipment rental business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
You won't find any magic formulas for selling a trenching machines and equipment rental business, especially while the market is struggling to overcome the perceptions created by a down economy.
The good news is that ambitious entrepreneurs continue to see trenching machines and equipment rental businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Understanding Market Timing
Now may be the best time to sell a trenching machines and equipment rental business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on trenching machines and equipment rental businesses. When the economy recovers there will be more trenching machines and equipment rental business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Should I Hire a Business Broker?
When selling a trenching machines and equipment rental business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your trenching machines and equipment rental business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered trenching machines and equipment rental business sale.
Sweetening the Deal
Today's trenching machines and equipment rental business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young trenching machines and equipment rental business owner, they can be critical launching points for their ownership journey.
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