Niche Exit Planning Strategies
Selling a Dredging Contractors Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a dredging contractors business sale. But in reality, now may be the perfect time to sell a dredging contractors business.
Personal and professional concerns surround the sale of a dredging contractors business. But have you considered how your customers, vendors and employees will handle the sale?
Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Timing the Market
Now may be the best time to sell a dredging contractors business. With interest rates at all-time lows, it's easy to see why dredging contractors businesses are an appealing investment opportunity for savvy investors. Sooner or later, rates will rise, increasing the risk for prospective buyers of dredging contractors businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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. On the one hand, confidentiality is critical for a successful dredging contractors business sale. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. It's typical for dredging contractors business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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