Sell a Business for the Best Price
Selling a Piling Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet piling businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
In a down economy, many piling business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of piling businesses that are actually for sale.
The economy hasn't squashed the market for piling businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the piling business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Average Timeframes
Hoping for a quick piling business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a piling business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your piling business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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