Exit Planning Strategies
Selling a Ventilating Equipment and Supplies Business
Market shifts affect business values and the ventilating equipment and supplies business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a ventilating equipment and supplies business during challenging economic times.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your ventilating equipment and supplies business can be sold at or above fair market value right now.
Before You Sell
The upfront time you investment in the sale of your ventilating equipment and supplies business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your ventilating equipment and supplies business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your ventilating equipment and supplies business. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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