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Selling a Concrete Curbing Business
Owning a concrete curbing business hasn't always been a bed of roses, but it's been worth the effort. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
If you plan on selling your concrete curbing business quickly, prepare to be disappointed.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a concrete curbing business sale. You just need to know your buyers and structure the deal accordingly.
Timing the Market
Timing is everything when it comes to selling a concrete curbing business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on concrete curbing businesses. When the economy recovers there will be more concrete curbing business buyers on the market, but higher interest rates could present challenges. At Gaebler, we recognize the value of timing the sale of your concrete curbing business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
Selling a Concrete Curbing Business to an Employee
Although it may seem easier to sell your concrete curbing business to an employee, this approach also has some pitfalls. 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. Seller financing is one way to get around the capital deficit of an employee-based concrete curbing business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Second, a good business broker is a master at confidentiality locating concrete curbing business sale prospects and guiding sellers through negotiations. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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