Niche Exit Planning Tactics
Selling a Water Hauling Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet water hauling businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
In a down economy, many water hauling business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of water hauling businesses that are actually for sale.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your water hauling business.
Signs You're in Over Your Head
Many water hauling business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other water hauling businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a water hauling business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Preparing for What's Next
The decision to sell your water hauling business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your water hauling business attractive to buyers.
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