Selling a business in any industry can be a challenging process, but when you operate in the plant and machinery hire sector you have certain issues to deal with that could threaten your ability to meet the objectives from your sale.
This is why it is imperative to plan well in advance, so you can control the effect of environmental factors, ever-changing legislative requirements, and the other sector-specific problems you face.
Selling My Business has been helping business owners sell their companies for more than 30 years. We are plant and machinery hire sales specialists and understand the issues you have to deal with on a day-to-day basis that could ultimately affect the price achieved.
Obtaining assistance from professional business sales brokers with specific knowledge and experience of your type of business offers you the best chance of achieving your goals, and ensures the entire process is conducted efficiently.
We will help you prepare your business for sale, deal with the issues that might negatively affect a successful outcome, and help you reap the rewards of all the hard work you have put into building your business.
The success of plant and machinery hire businesses depends heavily on other industries, particularly construction and manufacturing. Any downturn in these industries can result in financial distress in the plant and machinery sector. Brexit has also caused uncertainty for the economy as a whole, and created concern for the future of construction-related companies.
Complex environmental legislation means plant and machinery hire businesses must keep up with ever-changing regulations. Any breaches in compliance with environmental legislation and the management of waste could be viewed negatively by potential purchasers.
A shortage of skilled workers hinders business growth, but being unable to attract young people to work in plant and machinery hire creates uncertainty for the future of the sector as a whole. Although the apprenticeship scheme is long-established in the UK, its recent overhaul has added administrative responsibilities to participating businesses. Some plant and machinery hire companies simply do not have the resources to support apprentices as they learn their trade and apply their new skills within a practical environment.
New machine control technologies, artificial intelligence, and software that provides better quality management information as well as improved efficiency, requires significant investment. Plant and machinery hire businesses that have not made such investments could be perceived as less valuable by those looking to purchase.
Although not exclusively an issue for plant and machinery hire businesses, late payments are a major feature of their day-to-day operational environment. Delayed payments, plus what are often lengthy and fragmented supply chains involving numerous sub-contractors, create financial uncertainty and can have a severely detrimental effect on a company’s ability to grow.
To find out more about how we can help you sell your plant and machinery hire business, call our team of experts at Selling My Business. We offer a free consultation to discuss your situation and establish your needs.
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