Exit Planning Techniques By Market
Selling a Fire Hydrants Business
Many business leaders say that now isn't the time to try to sell a fire hydrants business. At Gaebler, we think it's a great time to sell a fire hydrants business. Here's why . . ..
An assortment of hurdles and obstacles stand between you and the successful sale of your fire hydrants business.
However, serious buyers also understand the value of a good fire hydrants business. So for fire hydrants business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Negotiation 101
There's no room for error when you negotiate the sale ofa fire hydrants business. Information is the key to a great fire hydrants business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Handling Unexpected Outcomes
When you made the decision to sell your fire hydrants business, you had a specific set of outcomes in mind. 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 fire hydrants business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Maintaining Objectivity
For most owners, the hardest part of selling a fire hydrants business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Share this article
Additional Resources for Entrepreneurs