Exit Planning Techniques By Market
Selling a Fireproofing and Firestopping Materials and Supplies Business
No one said selling your business in a depressed economy would be easy. Fortunately, a fireproofing and firestopping materials and supplies business sale isn't as scary as it seems.
Cutting corners never pays off, especially in the sale of a fireproofing and firestopping materials and supplies business.
Qualified buyers are constantly looking for attractive fireproofing and firestopping materials and supplies businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
In a fireproofing and firestopping materials and supplies business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a fireproofing and firestopping materials and supplies business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Selling a Fireproofing & Firestopping Materials & Supplies Business to an Employee
There are both benefits and drawbacks to selling a fireproofing and firestopping materials and supplies business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Before You Sell
The pre-sale checklist for a fireproofing and firestopping materials and supplies business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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