Optimizing Business Exits
Selling a Roofing Contractors Business
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a roofing contractors business sale isn't as scary as it seems.
Cutting corners never pays off, especially in the sale of a roofing contractors business.
Too often roofing contractors business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based roofing contractors business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your roofing contractors business. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Preparing for What's Next
So you've decided to sell your roofing contractors business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? 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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