Niche Exit Planning Strategies
Selling a Dredging Machinery Business
A good business is about more than dollars and sense. To make your dredging machinery business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
It takes dedication to sell a dredging machinery business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
The economy hasn't squashed the market for dredging machinery businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Professional Appraisals
An experienced appraiser is part and parcel of a successful dredging machinery business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. 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.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your dredging machinery business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a dredging machinery business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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