Niche Exit Planning Tactics
Selling a Wheelchair Rental and Leasing Business
It's a misconception that no one is buying wheelchair rental and leasing businesses these days. Savvy entrepreneurs see wheelchair rental and leasing business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Dire economic forecasts have forced many wheelchair rental and leasing business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Despite the conventional wisdom, we believe current economic conditions are right for selling a wheelchair rental and leasing business. With the right information and strategy, you could be well on your way to a successful sale
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. A professional audit can ease buyer concerns and amp up the value of your financial presentation. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Closing Strategies
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your wheelchair rental and leasing business. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in wheelchair rental and leasing business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Average Timeframes
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their wheelchair rental and leasing business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your wheelchair rental and leasing business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
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