Sell a Business Tips
Selling an SUV Parts and Service Business
Over the past few years, the SUV parts and service business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an SUV parts and service business during challenging economic times.
The decision to sell an SUV parts and service business is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
You'll always have an excuse for not putting your business on the market. Any SUV parts and service business can be sold at any time -- you just need to know how to influence the right buyers.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based SUV parts and service business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
How Much Does It Cost to Sell an SUV parts and service business?
In an SUV parts and service business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of an SUV parts and service business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
Preparing Family Members
Many sellers embarked on their SUV parts and service business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling an SUV parts and service business often begins with a family conversation and a mutual decision to move on the next stage of life.
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