December 12, 2019  
 
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Selling a Company

 

Selling a Land Company

Owning a land company hasn't always been a bed of roses, but it's been worth the effort. The next step is to position your business for the demands of the business-for-sale marketplace.

The economy isn't the only thing that is uncertain these days. So are land company buyers, many of whom are waiting to pull the trigger on their next acquisition.
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Qualified buyers are constantly looking for attractive land companies. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.

Are You the Right Person to Sell Your Business?

An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your land company in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. You see your company's potential. But buyers don't pay for potential - they pay for current market value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful land company sale.

How to Skillfully Address Buyer Concerns

Buyers can present challenges, especially during the due diligence stage. The questions land company ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.

Average Preparation Time

There are no effective shortcuts for selling a land company. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a land company can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.

More Exit Planning Articles

Given your interest in exit planning and in land companies, you might find these additional resources to be of interest.

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