Optimizing Business Exits
Selling a Reinforcing Steel Detailers Business
No one said selling your business in a depressed economy would be easy. Fortunately, a reinforcing steel detailers business sale isn't as scary as it seems.
The buzz in the marketplace is that now isn't the right time to sell a reinforcing steel detailers business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
If your exit strategy involves selling a reinforcing steel detailers business now, business sellers may need to apply a combination of incentives and techniques.
Turning the Tables: Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your reinforcing steel detailers business. 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.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a reinforcing steel detailers business. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
Advertising Your Sale
Successful reinforcing steel detailers business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. The best way to advertise a reinforcing steel detailers business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
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