Sell a Business for the Best Price
Selling a Pollution Control Services Business
The decision to sell your pollution control services business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You've invested too much in your pollution control services business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
The good news is that ambitious entrepreneurs continue to see pollution control services businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Before You Sell
The pre-sale checklist for a pollution control services business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. 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.
When to End Negotiations
Negotiations have a way of dragging on forever. Yet eventually many negotiations reach a stage where further discussion is pointless. 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. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your pollution control services business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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