Niche Market Exit Planning Tips
Selling a Building Inspections Engineers Business
No one said selling your business in a depressed economy would be easy. Fortunately, a building inspections engineers business sale isn't as scary as it seems.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
They require careful planning and an intentional strategy that emphasizes your building inspections engineers business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Selling a Building Inspections Engineers Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your building inspections engineers business, a sale to an employee is probably not a possibility.
Adjusting Expectations
When you made the decision to sell your building inspections engineers business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Maintaining Objectivity
For most owners, the hardest part of selling a building inspections engineers business is remaining objective. 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.
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