Sell a Business Tips
Selling a Street Light Poles and Equipment Business
A good business is about more than dollars and sense. To make your street light poles and equipment business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
In today's market, there is still plenty of room for street light poles and equipment businesses that demonstrate solid earning capacity and a robust market position.
The Best Person to Sell Your Street Light Poles & Equipment Business
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the street light poles and equipment business to gain an objective sense of fair market value.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful street light poles and equipment business sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Workforce Concerns
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. On the one hand, confidentiality is critical for a successful street light poles and equipment business sale. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the street light poles and equipment business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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