Optimizing Business Exits
Selling a Raised Floors Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet raised floors businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Most raised floors businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a raised floors business has to include ample communication and shared decision-making.
Why Confidentiality Matters
Highly publicized raised floors business sales are risky raised floors businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable raised floors business can be reduced to one that is struggling to survive. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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