In a down economy, many street lighting contractors business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of street lighting contractors businesses that are actually for sale.
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At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Any street lighting contractors business can be sold at any time -- you just need to know how to influence the right buyers.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your street lighting contractors business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. 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. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Broker vs. No Broker
When selling a street lighting 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 street lighting 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 street lighting contractors business on BizBuySell.com and other popular online business-for-sale listing sites.
For most owners, the hardest part of selling a street lighting contractors business is remaining objective. You have invested yourself in making your street lighting contractors business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Given your interest in exit planning and in street lighting contractors businesses, you might find these additional resources to be of interest.
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