Business Exits By Industry
Selling a Common and Face Brick Commercial and Industrial Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the common and face brick commercial and industrial business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a common and face brick commercial and industrial business in the current economic environment.
The economy isn't the only thing that is uncertain these days. So are common and face brick commercial and industrial business buyers, many of whom are waiting to pull the trigger on their next acquisition.
If your exit strategy involves selling a common and face brick commercial and industrial business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Selling Time
Hoping for a quick common and face brick commercial and industrial business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your common and face brick commercial and industrial business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the common and face brick commercial and industrial business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Share this article
Additional Resources for Entrepreneurs