Advice on Niche Market Exit Planning
Selling a Trucking Dispatchers Business
You've heard the naysayers - now isn't the time to sell a trucking dispatchers business. But what they don't know is that many entrepreneurs see trucking dispatchers businesses as a smart business investment.
Personal and professional concerns surround the sale of a trucking dispatchers 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 trucking dispatchers business a success.
In order to market a trucking dispatchers business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your trucking dispatchers business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Adjusting Expectations
When you made the decision to sell your trucking dispatchers business, you had a specific set of outcomes in mind. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your trucking dispatchers business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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