Exit Planning Techniques By Market
Selling a Foundation Drilling and Boring Contractors Business
You've learned a lot during your tenure as a foundation drilling and boring contractors business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
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 foundation drilling and boring contractors business, capital restrictions are holding them back.
There are many factors involved with the decision to sell a business. That's why we think it's important for foundation drilling and boring contractors business owners to know that it's possible to sell a business in any economy. You just need to know your buyers and structure the deal accordingly.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the foundation drilling and boring contractors business is coming to an end, the time to sell is now. There are a lot of naysayers out there advising foundation drilling and boring contractors business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the foundation drilling and boring contractors business marketplace. The inventory of what we consider to be quality foundation drilling and boring contractors businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Sweetening the Deal
Today's foundation drilling and boring contractors 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 foundation drilling and boring contractors business owner, they can be critical launching points for their ownership journey.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the foundation drilling and boring contractors business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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