Sell a Business Tips
Selling a Sewage Backup Cleaning Services Business
Maybe you're counting on your sewage backup cleaning services business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
You'll always have an excuse for not putting your business on the market. Selling a sewage backup cleaning services business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Laying the Groundwork
A successful sewage backup cleaning services business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your sewage backup cleaning services business on the market.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your sewage backup cleaning services business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your sewage backup cleaning services business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a sewage backup cleaning services business sale, a stalled negotiation can be an indication that the deal is dead. 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.
Share this article
Additional Resources for Entrepreneurs