Business Exit Planning
Selling a Mosquito Control Business
A good business is about more than dollars and sense. To make your mosquito control business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a mosquito control business, capital restrictions are holding them back.
Despite the conventional wisdom, we believe current economic conditions are right for selling a mosquito control business. Here's how to do it . . .
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions mosquito control business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Average Preparation Time
There are no effective shortcuts for selling a mosquito control business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a mosquito control business can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your mosquito control business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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