Sell a Business for the Best Price
Selling a Pumping Contractors and Services Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
The pumping contractors and services business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Too often pumping contractors and services business owners fail to receive fair market value for their businesses. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Sale Costs
In a pumping contractors and services business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a pumping contractors and services business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Current Market Conditions
No one plans to sell a pumping contractors and services business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. Despite the risks, sellers need to be cognizant of the fact that there is a large volume of pumping contractors and services businesses waiting to be listed until the economy rebounds. When that happens, the buyers' market will become even stronger and have a negative impact on prices. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your pumping contractors and services business as attractive as possible so to buyers right now.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your pumping contractors and services business until the prospect has been qualified as a serious buyer.
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