Exit Planning Tips
Selling a Heavy Construction Business
You've heard the naysayers - now isn't the time to sell a heavy construction business. But what they don't know is that many entrepreneurs see heavy construction businesses as a smart business investment.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
The good news is that ambitious entrepreneurs continue to see heavy construction businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your heavy construction business until the prospect has been qualified as a serious buyer.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a heavy construction business up for sale. With interest rates at all-time lows, it's easy to see why heavy construction businesses are an appealing investment opportunity for savvy investors. When the economy recovers there will be more heavy construction business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Leveraging Industry Connections
Today's heavy construction business buyers can be found in a variety of locations. 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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