Selling a Business Advice
Selling an Industrial Equipment Rental and Leasing Business
Many business leaders say that now isn't the time to try to sell an industrial equipment rental and leasing business. At Gaebler, we think it's a great time to sell an industrial equipment rental and leasing business. Here's why . . ..
In a down economy, many industrial equipment rental and leasing business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of industrial equipment rental and leasing businesses that are actually for sale.
If your exit strategy involves selling an industrial equipment rental and leasing business now, business sellers may need to apply a combination of incentives and techniques.
How to Increase Sale Price
A successful industrial equipment rental and leasing business requires an investment of both time and money. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
Preparing Your Industrial Equipment Rental & Leasing Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable industrial equipment rental and leasing business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your industrial equipment rental and leasing business, the amount of preparation you perform will have direct correlation on asking and sale prices. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
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. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. Consider informing your key employees first, followed by the rest of your workforce later in the process. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
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