Sell a Business for the Best Price
Selling a Piers Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a piers business sale. At Gaebler, we think it's a great time to sell a piers business. Here's why . . ..
A business exit is always a trying experience. But when you need to sell your piers business in a depressed economy, the challenges can seem insurmountable.
The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your piers business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your piers business to today's buyers.
We run into a lot of piers business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
Selling a Piers Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based piers business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Sale Preparations for Your Piers Business
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable piers business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Even though it may take years to adequately position your piers business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
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