Sell a Business Tips
Selling a Sand and Gravel Company
Don't believe anyone who tells you it's easy to sell a sand and gravel company. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
You won't find any magic formulas for selling a sand and gravel company, especially while the market is struggling to overcome the perceptions created by a down economy.
The economy hasn't squashed the market for sand and gravel companies. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. No two sand and gravel company sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling sand and gravel companies.
Family Issues
Many sellers embarked on their sand and gravel company 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 sand and gravel company. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a sand and gravel company often begins with a family conversation and a mutual decision to move on the next stage of life.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential sand and gravel company sale.
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