Niche Market Exit Planning Tips
Selling a Barges Building and Repair Business
Many business leaders say that now isn't the time to try to sell a barges building and repairing business. At Gaebler, we think it's a great time to sell a barges building and repairing business. Here's why . . ..
An assortment of hurdles and obstacles stand between you and the successful sale of your barges building and repairing business.
Undaunted by economic conditions, many barges building and repairing business sellers are achieving their sale goals through deliberate sale strategies.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful barges building and repairing business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Professional Appraisals
An experienced appraiser is part and parcel of a successful barges building and repairing business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your barges building and repairing business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
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