Sell a Business for the Best Price
Selling a Pumps, Parts, and Supplies Dealers Business
A good business is about more than dollars and sense. To make your pumps, parts, and supplies dealers business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Selling a pumps, parts, and supplies dealers business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
There are many factors involved with the decision to sell a business. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a pumps, parts, and supplies dealers business sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Pre-Sale Checklist
The upfront time you investment in the sale of your pumps, parts, and supplies dealers business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your pumps, parts, and supplies dealers business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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