Have you put your transport & travel services business for sale on the market? If yes, then the next steps include lining up a qualified buyer, negotiating a win-win deal with them, and completing the deal with minimum issues. These steps seem very easy, but opposite is truth. As much as 70% of small to mid-sized transport & travel services businesses are never sold. This happens because of some of the most obvious reasons, such as unrealistic asking price, insufficient lease, and inadequate financial records etc. Besides these major problems, there are some lesser known mistakes that sellers make due to which their business never sells. Here are some of these mistakes that you should not make if you want to sell your transport & travel services company.
1: Don’t Make Assumptions about Buyer
Most sellers make assumptions about buyers. You should never assume that you can always tell whether a prospect is a qualified buyer or someone who is just looking at your business as a hobby. You may be right about buyer’s intention, but you can’t always be right. If you are wrong about it, this mistake can cost you a solid sale deal. So, don’t make assumptions about buyers.
2: Don’t Hide Ugly Side of Your Business
Most sellers make their business for sale look ‘perfect.’ They do it because they think the clear the premises, the more appealing their business. A smart buyer will look at it in a different way. A business that looks perfect in all areas is seen like a strange idea. If your business has some weaknesses, don’t be afraid to show them to the potential buyer.
3: Don’t Neglect Prospective Buyers
Some business owners and sellers show a cynical attitude. This is probably because they have already wasted too much time with unqualified buyers. It is important to note that purchasers don’t feel comfortable around someone who doesn’t give them space. Most successful sellers establish rapport with the potential buyers or business broker uk. This is because people want to buy from someone they like. That’s why, you should be friendly with the potential buyers.
4: Don’t Ignore the Marketplace
As a seller of a transport & travel services business you should be well-informed about the marketplace and how it will affect the appeal of your offering. Some important things that you should take into close consideration include investigation about financing options that a buyer night require to complete the purchase and what is your rationalization for the asking price? and visit us: Turner Butler
5: Don’t Put Off Necessary Preparation
Some sellers put off necessary preparation until you have a qualified purchaser. By the time you’ll find a qualified purchaser it will be too late to start organizing important things, such as financial information, new lease negotiation with the landlord, etc. Bear in mind that getting prepared for a sale deal takes longer than you think. You should start preparing your business for sale from the time when you decide to sell it.