Personal and professional concerns surround the sale of an architectural support services business. In our experience, a common owner concern is how the sale will affect customers and employees.
(article continues below)
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
There is a lot of work that needs to be done before you're ready to sell your architectural support services 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.
In an architectural support services business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
There's no room for error when you negotiate the sale ofan architectural support services business. More often than not, the person with the most knowledge will come out on top in an architectural support services business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Given your interest in exit planning and in architectural support services businesses, you might find these additional resources to be of interest.
If starting an architectural support services business is on your agenda, these guides will help you get started:
If you want information on how to sell to architectural support services businesses, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.