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Selling a Concrete Construction Equipment and Supplies Rental and Leasing Business
You've learned a lot during your tenure as a concrete construction equipment and supplies rental and leasing business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
Personal and professional concerns surround the sale of a concrete construction equipment and supplies rental and leasing business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your concrete construction equipment and supplies rental and leasing business a success.
But at Gaebler, we see concrete construction equipment and supplies rental and leasing businesses still selling at a brisk pace. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some concrete construction equipment and supplies rental and leasing business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Signs You're in Over Your Head
It's not uncommon for the owners of small concrete construction equipment and supplies rental and leasing businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their concrete construction equipment and supplies rental and leasing businesses unassisted. Without brokerage, the risk of your sale going off-course is increased. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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. 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 concrete construction equipment and supplies rental and leasing 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.
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