Exit Planning Tips
Selling a Household Pump Installation and Service Business
Economic uncertainty influences the timing of many household pump installation and service business sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your household pump installation and service business on the market.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a household pump installation and service business sale works.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to household pump installation and service businesses that exhibit strong financials and potential for future growth.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a household pump installation and service business up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on household pump installation and service businesses. When the economy recovers there will be more household pump installation and service business buyers on the market, but higher interest rates could present challenges. At Gaebler, we recognize the value of timing the sale of your household pump installation and service business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
After the Sale
As your household pump installation and service businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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