A general business broker may put hundreds of types of businesses on the market during a career. While this blanket strategy increases the chances for commissions, it provides almost no time to learn the quirks of any particular industry. A limo business broker focuses exclusively on chauffeured transportation companies. These industry specific brokers have the experience and intuition to not only list limo companies for sale, but to market them as effectively as possible.
What is a limousine broker’s key to sales success? Besides extensive industry knowledge, they are familiar with the best buyers, know how to target those buyers, and have what it takes to close a deal with the right buyer.
Database of Industry Buyers
Marketing your limo business for sale to the masses is like taking a shot in the dark. Even if you are lucky enough to make contact with a buyer, chances are slim that it will be your best buyer – in other words, the buyer willing to pay the highest price. During their years of work, limousine business brokers develop and maintain a long list of industry contacts. Many times, they develop good relationships with these investors and limo business owners.
Targeted Sales Approach
A general business broker wants to sell your business; a limo business broker wants to sell your business for the highest possible price. Industry-specific brokers are willing to put in the time and energy necessary to track down investors who can justify paying the most money for your limo business for sale. Not only do limo brokers know who is looking for a business like yours, they can also target business owners who may not be actively seeking to buy a limo company for sale but who could gain serious synergistic benefits by acquiring or merging with your business. Limo brokers have the insight to identify potential symbiotic relationships that might be overlooked by general brokers.
Proven Transaction Specialists
There are certainly general brokers who possess the talent and professionalism to make a smooth sale. Unfortunately, even the best of these brokers tend to overlook important factors unique to the chauffeured transportation business. With its volatility, regulation, and fragmentation, the limo industry is a particularly challenging one to value. A simple oversight in the valuation of limo company can leave you with an asking price thousands of dollars short of what you might otherwise be able to receive. Even if you are able to identify a lucrative buyer, your broker may misinterpret a law or fail to navigate around a common complication, ultimately costing you the deal.
As an industry authority, your limousine business broker has the ability to bring all parties together – buyers, sellers, accountants, attorneys, and financial advisors – in order to avoid problems and to make the closing of a sale as seamless, and as financially rewarding, as possible.