October 14, 2019  
 
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Selling a Pavement Seal Coating Business

We hear it all the time: "This economy is a hostile environment for a business sale." However, pavement seal coating businesses haven't heard the news and are reporting steady action on the business-for-sale market.

The pavement seal coating business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
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It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the pavement seal coating business market and locate potential buyers ASAP.

Advantages of Hiring a Broker

A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.

Moving On

The decision to sell your pavement seal coating business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your pavement seal coating business. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your pavement seal coating business attractive to buyers.

Dealing with Buyers

It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood pavement seal coating business sellers with questions and requests, often to the point of becoming a nuisance. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.

More Exit Planning Articles

Given your interest in exit planning and in pavement seal coating businesses, you might find these additional resources to be of interest.

Five Tips for Maximizing Your Business Sale Price

Marketing a Pavement Seal Coating Business

Why Hire an Exit Planning Consultant


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