You need to get a good price for your lumber treating and drying business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to lumber treating and drying businesses that exhibit strong financials and potential for future growth.
In a lumber treating and drying business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
There is a lot of work that needs to be done before you're ready to sell your lumber treating and drying business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
It's difficult to predict where the buyer of your lumber treating and drying business will come from. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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