Optimizing Business Exits
Selling a Remodeling and Repair Contractors Commercial Business
A good business is about more than dollars and sense. To make your remodeling and repair contractors commercial 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.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact remodeling and repair contractors commercial business sales nearly as much as sale strategy.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your remodeling and repair contractors commercial business can be sold at or above fair market value right now.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your remodeling and repair contractors commercial business stays in the family, and everyone is happy. Yeah, right. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Advantages of Hiring a Broker
Brokers give remodeling and repair contractors commercial business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Preparing for What's Next
The decision to sell your remodeling and repair contractors commercial business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
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