November 19, 2019  
 
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Selling a Company

 

Selling a Lawn Ornaments and Decorations Business

Is the economy still a little shaky for a business sale? Sure it is. Yet lawn ornaments and decorations businesses haven't heard the news and are reporting steady action on the business-for-sale market.

Most entrepreneurs have the skills and stamina to endure and prosper during the sale ofa lawn ornaments and decorations business.
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The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your lawn ornaments and decorations business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. You just need to know your buyers and structure the deal accordingly.

Preparing Your Employees

Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the lawn ornaments and decorations business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.

Preparing Family Members

You're ready to sell your lawn ornaments and decorations business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a lawn ornaments and decorations business has to include ample communication and shared decision-making.

Sale Costs

You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your lawn ornaments and decorations business. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a lawn ornaments and decorations business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Lawn Ornaments and Decorations Business

Five Tips for Maximizing Your Business Sale Price

Why Most Businesses Do Not Have Exit Plans

What Does a Business Broker Charge?


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