Sell a Business for the Best Price
Selling a Plastering Contractors Commercial and Industrial Business
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a plastering contractors commercial and industrial business sale isn't as scary as it seems.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Despite the conventional wisdom, we believe current economic conditions are right for selling a plastering contractors commercial and industrial business. Here's how to do it . . .
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your plastering contractors commercial and industrial business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Share this article
Additional Resources for Entrepreneurs