Advice on Niche Market Exit Planning
Selling a Truck Bed Liners Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your truck bed liners business.
Personal and professional concerns surround the sale of a truck bed liners business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your truck bed liners business a success.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a truck bed liners business.
Equipment and Inventory Concerns
During due diligence, the buyer will undoubtedly conduct his own appraisal of your truck bed liners business's real assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your truck bed liners business.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your truck bed liners business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Current Market Conditions
Today's truck bed liners business sellers face an intimidating economic landscape. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a truck bed liners business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Share this article
Additional Resources for Entrepreneurs