Niche Exit Planning Strategies
Selling a Demolition Consulting Business
No one said selling your business in a depressed economy would be easy. Fortunately, a demolition consulting business sale isn't as scary as it seems.
The process of selling a demolition consulting business can be one of the most stressful experiences of your entrepreneurial career.
Despite the conventional wisdom, we believe current economic conditions are right for selling a demolition consulting business. We'll tell you what you need to know to achieve a successful sale outcome
Closing Strategies
Today's demolition consulting business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young demolition consulting business owner, they can be critical launching points for their ownership journey.
Adjusting Expectations
When you made the decision to sell your demolition consulting business, you had a specific set of outcomes in mind. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
Current Market Conditions
No one plans to sell a demolition consulting business in a down economy. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your demolition consulting business as attractive as possible so to buyers right now.
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