Business Exits By Industry
Selling a Coal and Coke Business
Most businesses are susceptible to economic conditions and coal and coke businesses are no exception. But in some cases, a down economy can actually improve saleability. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
According to the experts, there is currently a large volume of shadow inventory in the coal and coke business market -- businesses that are waiting to be listed until the economy recovers.
Undaunted by economic conditions, many coal and coke business sellers are achieving their sale goals through deliberate sale strategies.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Preparing Family Members
Many sellers embarked on their coal and coke business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the coal and coke business. The sale of the business will likely result in new family dynamics. The decision to sell a coal and coke business has to include ample communication and shared decision-making.
Professional Appraisals
An experienced appraiser is part and parcel of a successful coal and coke business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Share this article
Additional Resources for Entrepreneurs