Selling a Company Advice
Selling an Ultralight Aircraft Business
Don't believe anyone who tells you it's easy to sell an ultralight aircraft business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
But they're also savvy enough to know a good deal when they see it. So for ultralight aircraft business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for ultralight aircraft business sellers. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your ultralight aircraft business as attractive as possible so to buyers right now.
Leveraging Seller Concessions
It's becoming more difficult to sell an ultralight aircraft business without considering seller concessions. The most common seller concession is seller financing. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your ultralight aircraft business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
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