November 20, 2019  
 
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Selling a Company

 

Selling a Lake and Pond Construction and Maintenance Business

We hear it all the time: "This economy is a hostile environment for a business sale." However, lake and pond construction and maintenance businesses haven't heard the news and are reporting steady action on the business-for-sale market.

Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a lake and pond construction and maintenance business. We'll tell you what you need to know to achieve a successful sale outcome

The Best Person to Sell Your Lake & Pond Construction & Maintenance Business

An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the lake and pond construction and maintenance business to gain an objective sense of fair market value.

Closing Strategies

Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your lake and pond construction and maintenance business. 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 lake and pond construction and maintenance business owner, they can be critical launching points for their ownership journey.

Preparing Your Lake & Pond Construction & Maintenance Business for Sale

The outcome of a business sale is largely determined prior to a market listing. Profitable lake and pond construction and maintenance business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Everything you do to increase market share and profitability has a payoff in the final sale price of your lake and pond construction and maintenance business. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.

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