Exit Planning Tips
Selling a Hazardous Materials and Waste Contractors Business
Looking for shortcuts? You won't find them when you sell a hazardous materials and waste contractors business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
For sellers who are willing to perform adequate sale preparation, the numbers make hazardous materials and waste contractors businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your hazardous materials and waste contractors business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your hazardous materials and waste contractors business.
Working with a Professional Accountant
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.
Preparing Family Members
Many sellers embarked on their hazardous materials and waste contractors business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a hazardous materials and waste contractors business has to include ample communication and shared decision-making.
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