Niche Market Exit Planning Tips
Selling a Bush Hogging Business
Many business leaders say that now isn't the time to try to sell a bush hogging business. At Gaebler, we think it's a great time to sell a bush hogging business. Here's why . . ..
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a bush hogging business.
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.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
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. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. 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.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. Some experts are telling bush hogging business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the bush hogging business marketplace. With fewer bush hogging businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
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