Dire economic forecasts have forced many suspended ceilings business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your suspended ceilings business on the market.
Preparing Your Suspended Ceilings Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable suspended ceilings business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your suspended ceilings business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
As your suspended ceilings businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your suspended ceilings business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Ready to learn more? You may find these additional resources to be of interest.
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