September 26, 2020  
 
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Selling a Company

 

Selling a Sewer and Drain Cleaning Equipment Rental Business

A good business is about more than dollars and sense. To make your sewer and drain cleaning equipment rental business what it is today, you've had to fully invest yourself in its success. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.

Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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Yet everyday, hundreds of listed sewer and drain cleaning equipment rental businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.

Dealing with Your Emotions

Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a sewer and drain cleaning equipment rental business scan stir up a range of emotions. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.

Broker vs. No Broker

When selling a sewer and drain cleaning equipment rental 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 sewer and drain cleaning equipment rental business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.

Why Confidentiality Matters

In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable sewer and drain cleaning equipment rental business can be reduced to one that is struggling to survive. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.

More Exit Planning Articles

Given your interest in exit planning and in sewer and drain cleaning equipment rental businesses, you might find these additional resources to be of interest.

What Does a Business Broker Charge?

Marketing a Sewer and Drain Cleaning Equipment Rental Business

Entrepreneurial Exit Strategies


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