Business Exits By Industry
Selling a Concrete Tanks Business
Despite the pessimistic mood of many sellers, your concrete tanks business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Dire economic forecasts have forced many concrete tanks business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
More than a few concrete tanks business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Preparing Family Members
Many sellers embarked on their concrete tanks business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a concrete tanks business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Preparing Your Employees
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. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the concrete tanks business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Leveraging Industry Connections
There are a lot of different places to look for concrete tanks business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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