Profitable Niche Market Exit Plans
Selling an Oil Additives Distributors and Manufacturers Business
Don't believe anyone who tells you it's easy to sell an oil additives distributors and manufacturers business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
However, serious buyers also understand the value of a good oil additives distributors and manufacturers business. Financial statements and ROI are essential in converting modern oil additives distributors and manufacturers business prospects into buyers.
Turning the Tables: Buyer Concessions
Most oil additives distributors and manufacturers business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Preparing for What's Next
What will happen if your oil additives distributors and manufacturers business is a success? If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your oil additives distributors and manufacturers business attractive to buyers.
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