Sell a Business for the Best Price
Selling a Plumbing and Heating Contractors Business
Is the economy still a little shaky for a business sale? Sure it is. Yet plumbing and heating contractors businesses continue to sell at a brisk pace, regardless of the economy.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to plumbing and heating contractors businesses that exhibit strong financials and potential for future growth.
Preparing Your Plumbing & Heating Contractors Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful plumbing and heating contractors business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Even though it may take years to adequately position your plumbing and heating contractors business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based plumbing and heating contractors business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Signs You're in Over Your Head
Many plumbing and heating contractors business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
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