Exit Planning Advice By Market
Selling an Auto Bodies Commercial Business
Despite the pessimistic mood of many sellers, your auto bodies commercial business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a auto bodies commercial business.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling an auto bodies commercial business. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your auto bodies commercial business on BizBuySell.com and other popular online business-for-sale listing sites.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your auto bodies commercial business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your auto bodies commercial business.
Preparing Family Members
Many sellers embarked on their auto bodies commercial business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling an auto bodies commercial business often begins with a family conversation and a mutual decision to move on the next stage of life.
Share this article
Additional Resources for Entrepreneurs