November 13, 2019  
 
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Selling a Business

 

Selling a Lawn and Garden Sprinklers Installation and Service Business

Selling a lawn and garden sprinklers installation and service business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.

Despite your best intentions, great business sales don't happen overnight.
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The economy hasn't squashed the market for lawn and garden sprinklers installation and service businesses. 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.

Working with Accountants

Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.

When to End Negotiations

The negotiation stage of a lawn and garden sprinklers installation and service business can seem never-ending. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.

More Exit Planning Articles

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

Pros and Cons of Using Business Brokers

Marketing a Lawn and Garden Sprinklers Installation and Service Business

Five Tips for Maximizing Your Business Sale Price


Conversation Board

Sometimes the best tips on selling a business come from other business owners. If you have any tips or advice on how to sell a lawn and garden sprinklers installation and service business, we invite you to submit your comments and suggestions.


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