Business Exits By Industry
Selling a Culverts Business
A good business is about more than dollars and sense. To make your culverts business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
The culverts business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to culverts businesses that exhibit strong financials and potential for future growth.
Preparing Family Members
Many sellers embarked on their culverts 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. The sale of the business will likely result in new family dynamics. Subsequently, selling a culverts business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your culverts business. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. 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.
Equipment and Inventory Concerns
During due diligence, the buyer will undoubtedly conduct his own appraisal of your culverts business's physical assets. Your appraisal should occur before you put your business on the market. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your culverts business.
Share this article
Additional Resources for Entrepreneurs