Advice on Niche Market Exit Planning
Selling a Truck Rental and Leasing Commercial Business
You've learned a lot during your tenure as a truck rental and leasing commercial business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
When the economy recovers, we expect to see a sudden influx of truck rental and leasing commercial businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your truck rental and leasing commercial business.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a truck rental and leasing commercial business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Selling a Truck Rental & Leasing Commercial Business to an Employee
There are both benefits and drawbacks to selling a truck rental and leasing commercial business to an employee. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based truck rental and leasing commercial business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful truck rental and leasing commercial business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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