Exit Planning Advice By Market
Selling an Asphalt and Asphalt Products Business
Don't believe anyone who tells you it's easy to sell an asphalt and asphalt products business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
We're seeing a high volume of shadow inventory in the business-for-sale market.
But they're also savvy enough to know a good deal when they see it. To sell your asphalt and asphalt products business, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your asphalt and asphalt products business until the prospect has been qualified as a serious buyer.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the asphalt and asphalt products business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. You have invested yourself in making your asphalt and asphalt products 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. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
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