Business Exits By Industry
Selling a Cast Stone Business
With the economy struggling to rebound, the shadow inventory of cast stone businesses in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful cast stone business
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a cast stone business, capital restrictions are holding them back.
There are still plenty of cast stone business buyers looking for opportunities that present well in the marketplace.
Family Issues
You're ready to sell your cast stone business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a cast stone business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based cast stone business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your cast stone business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your cast stone business in the business-for-sale marketplace. But your knowledge and personal insights about the cast stone business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the cast stone business to gain an objective sense of fair market value.
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