Exit Planning Advice By Market
Selling an Auto Wrecking Information and Referral Services Business
A lot can go wrong during the sale of an auto wrecking information and referral services 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.
You won't find any magic formulas for selling an auto wrecking information and referral services business, especially while the market is struggling to overcome the perceptions created by a down economy.
Despite the conventional wisdom, we believe current economic conditions are right for selling an auto wrecking information and referral services business. Here's how to do it . . .
Why Confidentiality Matters
Highly publicized auto wrecking information and referral services business sales are risky auto wrecking information and referral services businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your auto wrecking information and referral services business. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Average Timeframes
Hoping for a quick auto wrecking information and referral services business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your auto wrecking information and referral services business, you'll need to invest as much as a year in preparing it for prospective buyers. 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.
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