Niche Market Exit Planning Tips
Selling a Building Permits Business
Your building permits business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a building permits business.
Equipment and Inventory Concerns
During due diligence, the buyer will undoubtedly conduct his own appraisal of your building permits business's inventory, equipment, and physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Advertising Your Sale
The best building permits business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing building permits business sales while maintaining the confidentiality that is critical to your business.
Adjusting Expectations
If you're smart, you entered your building permits business with a set of assumptions about what it would achieve. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your building permits business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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