Exit Planning Advice By Market
Selling an Automobile Oil Change Business
Most businesses are susceptible to economic conditions and auto oil and lube businesses are no exception. But in some cases, a down economy can actually improve saleability. Now all you have to do is convince the right buyer that your business is built for long-term success.
It's a fact: Successful business sales take time.
If your exit strategy involves selling an auto oil and lube business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Professional Appraisals
An experienced appraiser is part and parcel of a successful auto oil and lube business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Following the appraisal, you may choose to delay your sale until you can increase the value of assets and revenue.
Laying the Groundwork
Effective auto oil and lube business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate an auto oil and lube business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium auto oil and lube business opportunity.
Selling an Automobile Oil Change Business to an Employee
Although it may seem easier to sell your auto oil and lube business to an employee, this approach also has some pitfalls. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your auto oil and lube business, a sale to an employee is probably not a possibility.
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