Business Exits By Industry
Selling a Crushed Rock Business
Your crushed rock business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
When the economy recovers, we expect to see a sudden influx of crushed rock businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
Undaunted by economic conditions, many crushed rock business sellers are achieving their sale goals through deliberate sale strategies.
Sweetening the Deal
Today's crushed rock business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in crushed rock 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.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. You have invested yourself in making your crushed rock business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
The Best Person to Sell Your Crushed Rock 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 crushed rock business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the crushed rock business to gain an objective sense of fair market value.
Share this article
Additional Resources for Entrepreneurs