Sell a Business Tips
Selling a Surveyor Business
You've learned a lot during your tenure as a surveyor business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
You need to get a good price for your surveyor business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Undaunted by economic conditions, many surveyor business sellers are achieving their sale goals through deliberate sale strategies.
Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a surveyor business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. 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.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your surveyor business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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