Business Exits By Industry
Selling a Civil Engineers Business
A good business is about more than dollars and sense. To make your civil engineers business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
You need to get a good price for your civil engineers business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Although it takes hard work and dedication, if it's time to exit your civil engineers business there is a good chance you can sell it for a good price -- even in today's market.
Average Timeframes
It's rarely possible to sell a civil engineers business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your civil engineers business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a civil engineers business sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
Working with Accountants
Accountants come into play at several stages of the sale process. Most civil engineers business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
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