Optimizing Business Exits
Selling a Residential Lead Detection and Removal Business
A good business is about more than dollars and sense. To make your residential lead detection and removal business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a residential lead detection and removal business in today's market.
If you're looking for a reason to wait to put your business on the market, you'll find it. With hard work and dedication, your residential lead detection and removal business can be sold at or above fair market value right now.
Selling to a Family Member
There is no easy way to sell a residential lead detection and removal business, not even to a family member. 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.
Tapping Into Business Networks
There are a lot of different places to look for residential lead detection and removal business buyers. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Family Issues
Many sellers embarked on their residential lead detection and removal business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the residential lead detection and removal business. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a residential lead detection and removal business has to include ample communication and shared decision-making.
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