Niche Exit Planning Tactics
Selling a Welding Repairs Business
Most businesses are susceptible to economic conditions and welding repairs businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
In a down economy, many welding repairs business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of welding repairs businesses that are actually for sale.
Too often welding repairs business owners cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your welding repairs business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your welding repairs business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Finding Prospects
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Tips for Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. As you prepare for the sale of your welding repairs business, expect to be asked to finance a substantial part of the sale price.
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