Exit Planning Tips
Selling a Hazardous Materials and Waste Consultants Business
A lot can go wrong during the sale of a hazardous materials and waste consultants business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Hazmat consultants advise businesses on how to handle, store, transport and dispose of dangerous and toxic materials.
But sooner or later, all good things must come to an end. And when that day arrives, you need to know how to sell your hazardous materials and waste consultants business in a way that achieves positive outcomes for you and the business.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your hazardous materials and waste consultants business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some hazardous materials and waste consultants business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. 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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