Exit Planning Advice By Market
Selling an Auto Smog Devices Business
A lot can go wrong during the sale of an auto smog devices business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Market timing is a perennial problem for business sellers.
At Gaebler, we're seeing auto smog devices business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Working with Accountants
Professional accountants lend credibility to the financial preparation of an auto smog devices business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your auto smog devices business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
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