Niche Exit Planning Strategies
Selling a Draglines Business
Is the economy still a little shaky for a business sale? Sure it is. Yet draglines businesses continue to sell at a brisk pace, regardless of the economy.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a draglines business in today's market.
If you're looking for a reason to wait to put your business on the market, you'll find it. Any draglines business can be sold at any time -- you just need to know how to influence the right buyers.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a draglines business. The enlistment of a qualified business broker is an excellent first step. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Advertising Your Sale
The best draglines business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. The best way to advertise a draglines business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Business Valuation
Multiple valuation methods exist for a draglines business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your draglines business based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
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