November 15, 2019  
 
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Selling a Company

 

Selling a Living Plant Rental, Leasing, and Maintenance Business

No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.

Cutting corners never pays off, especially in the sale of a living plant rental, leasing, and maintenance business.
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Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a living plant rental, leasing, and maintenance business.

Preparing Your Employees

As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful living plant rental, leasing, and maintenance business sale. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. 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 living plant rental, leasing, and maintenance 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.

Post-Sale Details

Due diligence has ended and you're ready to close on the sale of your living plant rental, leasing, and maintenance business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.

Average Timeframes

It's rarely possible to sell a living plant rental, leasing, and maintenance business in a month or two. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your living plant rental, leasing, and maintenance business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in living plant rental, leasing, and maintenance businesses, you might find these additional resources to be of interest.

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Pros and Cons of Using Business Brokers

Terms of Investment Banking Agreement

Family Business Exit Plans


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 living plant rental, leasing, and maintenance business, we invite you to submit your comments and suggestions.


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