Niche Exit Planning Tactics
Selling a Water Well Abandonment Service Business
Is the economy still a little shaky for a business sale? Sure it is. Yet water well abandonment service businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Personal and professional concerns surround the sale of a water well abandonment service business. In our experience, a common owner concern is how the sale will affect customers and employees.
The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your water well abandonment service business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Preparing for What's Next
So you've decided to sell your water well abandonment service business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your water well abandonment service business. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Sweetening the Deal
Today's water well abandonment service business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young water well abandonment service business owner, they can be critical launching points for their ownership journey.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a water well abandonment service business without outside assistance. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your water well abandonment service business, you can avoid painful tax and legal complications both before and after closing.
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