Niche Exit Planning Strategies
Selling a Dry Mixed Concrete Business
The decision to sell your dry mixed concrete business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a dry mixed concrete business, but have limited capital to get their foot in the door.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to dry mixed concrete businesses that exhibit strong financials and potential for future growth.
Sale Costs
In a dry mixed concrete business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a dry mixed concrete business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Whether you realize it or not, your dry mixed concrete business has been an important part of your family life. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a dry mixed concrete business has to include ample communication and shared decision-making.
Sweetening the Deal
Today's dry mixed concrete business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. 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 dry mixed concrete business owner, they can be critical launching points for their ownership journey.
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