Exit Planning Advice By Market
Selling an Auto Consultants and Information Business
Don't believe anyone who tells you it's easy to sell an auto consultants and information business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
It's a fact: Successful business sales take time.
Undaunted by economic conditions, many auto consultants and information business sellers are achieving their sale goals through deliberate sale strategies.
Leveraging Seller Concessions
It's becoming more difficult to sell an auto consultants and information business without considering seller concessions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of an auto consultants and information business can translate into a dead deal. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in auto consultants and information business sales. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Selling Time
Hoping for a quick auto consultants and information business sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. On average, it takes a minimum of six months to prepare an auto consultants and information business for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Share this article
Additional Resources for Entrepreneurs