November 22, 2019  
 
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How to Sell to a Business

 

Selling a Lawn and Garden Referral Information Services Business

There's a right way and a wrong way to sell a lawn and garden referral information services business even if the seller has previous business sales experience. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.

In a down economy, many lawn and garden referral information services business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of lawn and garden referral information services businesses that are actually for sale.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to lawn and garden referral information services businesses that exhibit strong financials and potential for future growth.

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. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.

Preparing Your Employees

Business sellers walk a fine line when it comes to preparing their employees for a sale. 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 and garden referral information services business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.

Legal Considerations

There is no way around the requirement to hire professional legal assistance when you sell your lawn and garden referral information services business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.

More Exit Planning Articles

Given your interest in exit planning and in lawn and garden referral information services businesses, you might find these additional resources to be of interest.

Marketing a Lawn and Garden Referral Information Services Business

Why Hire an Exit Planning Consultant

How Much Is My Business Worth?

How To Choose An Investment Banker


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