Business Exits By Industry
Selling a Carbon Monoxide Testing Business
Don't believe anyone who tells you it's easy to sell a carbon monoxide testing business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a carbon monoxide testing business sale works.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a carbon monoxide testing business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Selling a Carbon Monoxide Testing Business to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. 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. Seller financing is one way to get around the capital deficit of an employee-based carbon monoxide testing business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Post-Sale Details
The way you exit your carbon monoxide testing business is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
What About Market Conditions?
No one plans to sell a carbon monoxide testing business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of carbon monoxide testing businesses will flood the market and drive prices down even further. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your carbon monoxide testing business as attractive as possible so to buyers right now.
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