Exit Planning Advice By Market
Selling an Architectural Service Bureau
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet architectural services bureaus continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The economy isn't the only thing that is uncertain these days. So are architectural service bureau buyers, many of whom are waiting to pull the trigger on their next acquisition.
Too often architectural service bureau sellers sell for a price that is well below market value. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Selling to a Family Member
There is no easy way to sell an architectural service bureau, not even to a family member. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
When the Sale Goes Off-Course
The architectural service bureau-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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