Sell a Business for the Best Price
Selling a Piping Contractors Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, piping contractors businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
However, serious buyers also understand the value of a good piping contractors business. So for piping contractors business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Maintaining Objectivity
For most owners, the hardest part of selling a piping contractors business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful piping contractors business sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Sweetening the Deal
Today's piping contractors business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. In the current economy, seller financing is becoming common in piping contractors business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
The Best Person to Sell Your Piping Contractors Business
As the owner, you are both the best and worst person to sell your piping contractors business. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the piping contractors business to gain an objective sense of fair market value.
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