Niche Market Exit Planning Tips
Selling a Building Construction Control Services Business
You've learned a lot during your tenure as a building construction control services business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
You'll always have an excuse for not putting your business on the market. Selling a building construction control services business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Preparing Family Members
You're ready to sell your building construction control services business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a building construction control services business has to include ample communication and shared decision-making.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based building construction control services business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
In a building construction control services business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
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