Exit Planning Tips
Selling a Housing Projects Business
Despite the pessimistic mood of many sellers, your housing projects business can be a high value acquisition target for ambitious entrepreneurs -- even in today's tough economy.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a housing projects business.
After the Sale
As your housing projects 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. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Selling a Housing Projects Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based housing projects business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium housing projects business opportunity.
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