June 3, 2020  
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How to Sell to a Business


Selling a Grain Bin Contractors Business

Maybe you're counting on your grain bin contractors 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.

Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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There is no simple way to sell a business. But the most prepared grain bin contractors business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.

When Is the Right Time to Sell?

When is it the right time to sell your grain bin contractors business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling grain bin contractors business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the grain bin contractors business marketplace. The inventory of what we consider to be quality grain bin contractors businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

Broker vs. No Broker

When selling a grain bin contractors business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a grain bin contractors business. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your grain bin contractors business on BizBuySell.com and other popular online business-for-sale listing sites.

Selling to a Family Member

The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based grain bin contractors business sale can be more complicated than selling to a stranger. In fact, selling your grain bin contractors business to a family member can quickly become a no-win proposition. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in grain bin contractors businesses, you might find these additional resources to be of interest.

Terms of Investment Banking Agreement

Marketing a Grain Bin Contractors Business

Selling Part of a Business

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What challenges have you experienced in selling a grain bin contractors business or are you just getting started? If you have questions or advice to share, we'd love to hear from you!

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