December 2, 2020  
 
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Selling a Company

 

Selling a Commercial and Industrial Asphalt Paving Business

There are few things as intimidating as selling a business in a sluggish economy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.

The commercial and industrial asphalt paving business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
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The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a commercial and industrial asphalt paving business sale. To improve sale outcomes, you will simply need to tailor your commercial and industrial asphalt paving business to today's buyers.

Hiring an Attorney

It's obvious that you're going to need to hire an attorney to finalize the sale of your commercial and industrial asphalt paving business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.

Preparing for What's Next

The decision to sell your commercial and industrial asphalt paving business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.

When to End Negotiations

Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in commercial and industrial asphalt paving businesses, you might find these additional resources to be of interest.

Marketing a Commercial and Industrial Asphalt Paving Business

How Much Is My Business Worth?

Five Tips for Maximizing Your Business Sale Price

Role of Location In Selling a Business


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