Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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The good news is that ambitious entrepreneurs continue to see lawn installation and maintenance services businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Pros & Cons of a Sale to an Employee
There are both benefits and drawbacks to selling a lawn installation and maintenance services business to an employee. A key employee may seem like a natural sales prospect. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your lawn installation and maintenance services business, a sale to an employee is probably not a possibility.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some lawn installation and maintenance services business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the lawn installation and maintenance services business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling lawn installation and maintenance services businesses.
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