Business Exit Planning
Selling a Maintenance Residential Business
A lot can go wrong during the sale of a maintenance residential business these days. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
If you're ready to move on, now is the right time to sell your maintenance residential business.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions maintenance residential business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a maintenance residential business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your maintenance residential business, you can avoid painful tax and legal complications both before and after closing.
Sale Preparations for Your Maintenance Residential Business
The outcome of a business sale is largely determined prior to a market listing. Profitable maintenance residential business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your maintenance residential business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Share this article
Additional Resources for Entrepreneurs