Niche Market Exit Planning Tips
Selling a Barge Cleaning Business
When it's time to sell your barge cleaning business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
In a skittish economy, barge cleaning business sellers can access several strategies to receive fair market value from entrepreneurs who understand the value of a good business investment.
Average Timeframes
Hoping for a quick barge cleaning business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your barge cleaning business, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive barge cleaning business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Selling a Barge Cleaning Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the barge cleaning business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
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