Exit Planning Advice By Market
Selling an Auto Damage Appraisers Business
The sale of your auto damage appraisers business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofan auto damage appraisers business.
There is no simple way to sell a business. But the most prepared auto damage appraisers business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
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. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Average Preparation Time
It's critical to properly plan for the sale ofan auto damage appraisers business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a auto damage appraisers business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Leveraging Industry Connections
These days, auto damage appraisers business buyers are an extremely diverse group with backgrounds in and outside of the industry. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. But industry connections can also be a valuable source of leads. Time and time again, successful auto damage appraisers business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
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