Niche Exit Planning Strategies
Selling a Design and Build Contractors Business
Is the economy still a little shaky for a business sale? Sure it is. Yet design and build contractors businesses continue to sell at a brisk pace, regardless of the economy.
Despite your best intentions, great business sales don't happen overnight.
If you're ready to move on, now is the right time to sell your design and build contractors business.
Current Market Conditions
Today's design and build contractors business sellers face an intimidating economic landscape. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. 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 design and build contractors business as attractive as possible so to buyers right now.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your design and build contractors business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a design and build contractors business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Share this article
Additional Resources for Entrepreneurs