Optimizing Business Exits
Selling a Rock and Lime Hauling Business
Looking for shortcuts? You won't find them when you sell a rock and lime hauling business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Many business owners don't know that rock and lime hauling businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Average Timeframes
It's rarely possible to sell a rock and lime hauling business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a rock and lime hauling business for sale and many sellers spend a year or more positioning their business to command a higher price. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your rock and lime hauling business's real assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your rock and lime hauling business.
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