Tips to Improve Exit Planning
Selling a Janitorial Service
A lot can go wrong during the sale of a janitorial service in today's economy. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
If you plan on selling your janitorial service quickly, prepare to be disappointed.
To achieve your goals, you'll need to know the market as well as key business selling techniques. But for business sellers, the process begins with having the right mental attitude.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your janitorial service, your business brokers may or may not be willing to conduct negotiations for you. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Post-Sale Details
As your janitorial servicesale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
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