Exit Planning Advice By Market
Selling an Auto Performance, Modification, and Racing Equipment and Supplies Retail Business
For the right sellers, the business-for-sale marketplace is a friendly environment for auto performance, modification, and racing equipment and supplies retail business opportunities. Here's what you need to know to get a fair price for your company.
Selling a auto performance, modification, and racing equipment and supplies retail business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Undaunted by economic conditions, many auto performance, modification, and racing equipment and supplies retail business sellers are achieving their sale goals through deliberate sale strategies.
Signs You're in Over Your Head
Many auto performance, modification, and racing equipment and supplies retail business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your auto performance, modification, and racing equipment and supplies retail business. Concessions can consist of non-cash as well as cash 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 auto performance, modification, and racing equipment and supplies retail 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.
Current Market Conditions
No one plans to sell an auto performance, modification, and racing equipment and supplies retail business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of auto performance, modification, and racing equipment and supplies retail businesses waiting to be listed until the economy rebounds. When that happens, the buyers' market will become even stronger and have a negative impact on prices. Like it or not, the time to sell your auto performance, modification, and racing equipment and supplies retail business may be right now, as long as your willing to adequately prepare your business for the marketplace.
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