Selling a Company Advice
Selling a Used Electric Equipment Business
You've learned a lot during your tenure as a used electric equipment business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Most used electric equipment businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
What to Expect in a Used Electric Equipment Business Sale
The sale of a used electric equipment business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your used electric equipment business on the market.
Signs You're in Over Your Head
Many used electric equipment business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. 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 used electric equipment business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
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