Exit Planning Techniques By Market
Selling a Fumigating Business
Maybe you're counting on your fumigating business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
Dire economic forecasts have forced many fumigating business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
There is no simple way to sell a business. But the most prepared fumigating business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. The decision to sell a fumigating business often begins with a family conversation and a mutual decision to move on the next stage of life.
How to Skillfully Address Buyer Concerns
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. It's completely normal for fumigating business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Leveraging Industry Connections
There are a lot of different places to look for fumigating business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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