Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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Too often siding painting business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your siding painting business until the prospect has been qualified as a serious buyer.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your siding painting business. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Ready to learn more? You may find these additional resources to be of interest.
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