Sell a Business for the Best Price
Selling a Power Plant Equipment and Services Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a power plant equipment and services business sale isn't as scary as it seems.
Market timing is a perennial problem for business sellers.
If your exit strategy involves selling a power plant equipment and services business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. In the power plant equipment and services business industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Family Issues
Many sellers embarked on their power plant equipment and services business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a power plant equipment and services business has to include ample communication and shared decision-making.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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