Advice on Niche Market Exit Planning
Selling a Truck Alignment Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a truck alignment business sale. At Gaebler, we think it's a great time to sell a truck alignment business. Here's why . . ..
Cutting corners never pays off, especially in the sale of a truck alignment business.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your truck alignment business.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a truck alignment business up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on truck alignment businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of truck alignment businesses. 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.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your truck alignment business during their initial inquires. Avoid releasing details about your truck alignment business until you have established that they have the financial capacity to make a legitimate offer.
Signs You're in Over Your Head
Many truck alignment business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your truck alignment business is priced out of the market. If that occurs, it's time to bring in the professionals to get your sale back on track.
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