Business Exit Planning
Selling a Mineral Surveyors Business
There are few things as intimidating as selling a business in a sluggish economy. But selling your mineral surveyors business doesn't have to be as daunting as it sounds.
We're seeing a high volume of shadow inventory in the business-for-sale market.
They require careful planning and an intentional strategy that emphasizes your mineral surveyors business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Advertising Your Sale
Successful mineral surveyors business sales begin with a carefully planned advertising and promotional strategies. But confidentiality issues are a hurdle you'll need to address before you put your mineral surveyors business on the market. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. The best way to advertise a mineral surveyors business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a mineral surveyors business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Share this article
Additional Resources for Entrepreneurs