You need to get a good price for your asphalt pavement repair and maintenance business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to asphalt pavement repair and maintenance businesses that exhibit strong financials and potential for future growth.
Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Hoping for a quick asphalt pavement repair and maintenance business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your asphalt pavement repair and maintenance business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
We run into a lot of asphalt pavement repair and maintenance business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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