Sell a Business for the Best Price
Selling a Pumps Installation Business
The sale of a pumps installation business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
The economy isn't the only thing that is uncertain these days. So are pumps installation business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Many business owners don't know that pumps installation businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. In a pumps installation business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
What About Market Conditions?
At first glance, today's market would seem to be a hostile place for pumps installation business sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your pumps installation business as attractive as possible so to buyers right now.
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