December 4, 2020  
 
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Selling a Business

 

Selling a Concrete Construction Equipment and Supplies Business

Maybe you're counting on your concrete construction equipment and supplies business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.

You need to get a good price for your concrete construction equipment and supplies business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the concrete construction equipment and supplies business market and locate potential buyers ASAP.

Maintaining Objectivity

For most owners, the hardest part of selling a concrete construction equipment and supplies business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.

Sweetening the Deal

Today's concrete construction equipment and supplies business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. In the current economy, seller financing is becoming common in concrete construction equipment and supplies business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.

The Best Person to Sell Your Concrete Construction Equipment & Supplies Business

An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your concrete construction equipment and supplies business in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. You see your company's potential. But buyers don't pay for potential - they pay for current market value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful concrete construction equipment and supplies business sale.

More Exit Planning Articles

Given your interest in exit planning and in concrete construction equipment and supplies businesses, you might find these additional resources to be of interest.

Marketing a Concrete Construction Equipment and Supplies Business

Terms of Investment Banking Agreement

Pre-Exit Employee Incentive Programs

How Much Is My Business Worth?


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Do you have any tips on selling concrete construction equipment and supplies businesses? If so, we'd love to hear from you!


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