Niche Market Exit Planning Tips
Selling a Barge and Tugboat Brokerage
You've invested time, effort, and creativity into building your barge and tugboat brokerage. Now it's time to put that same kind of focus into selling it.
When it comes to selling a barge and tugboat brokerage, there are no shortcuts to success.
But they're also savvy enough to know a good deal when they see it. So for barge and tugboat brokerage sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Advertising Your Sale
Successful barge and tugboat brokerage sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. There are multiple ways to promote a barge and tugboat brokerage sale, many of which require the assistance of a professional business broker.
Post-Sale Details
Due diligence has ended and you're ready to close on the sale of your barge and tugboat brokerage. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the barge and tugboat brokerage on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
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