Sell a Business Tips
Selling a Smog Abatement Consultants Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your smog abatement consultants business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
Too often smog abatement consultants business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
What to Expect in a Smog Abatement Consultants Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your smog abatement consultants business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a smog abatement consultants business sale by setting realistic expectations before you list your business.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your smog abatement consultants 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.
Share this article
Additional Resources for Entrepreneurs