These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy an asphalt seal coating business, capital restrictions are holding them back.
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Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a asphalt seal coating business.
Pros & Cons of a Sale to an Employee
Although it may seem easier to sell your asphalt seal coating business to an employee, this approach also has some pitfalls. There are some perks to selling the business in-house. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your asphalt seal coating business, a sale to an employee is probably not a possibility.
Emotions run high during the sale of an asphalt seal coating business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
The Best Person to Sell Your Asphalt Seal Coating Business
There are benefits and drawbacks to handling the sale of your asphalt seal coating business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your asphalt seal coating business in the business-for-sale marketplace. But your knowledge and personal insights about the asphalt seal coating business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the asphalt seal coating business to gain an objective sense of fair market value.
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