Exit Planning Advice By Market
Selling an Auto Wheel Covers and Hubcaps Business
Unfortunately, many sellers are waiting to list their auto wheel covers and hubcaps businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, auto wheel covers and hubcaps businesses are a great investment.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Most auto wheel covers and hubcaps businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell an auto wheel covers and hubcaps business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your auto wheel covers and hubcaps business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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.
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