Sell a Business Tips
Selling a Sand and Gravel Handling Equipment Business
There are no guarantees when you sell a sand and gravel handling equipment business. But our tips will equip you with the information you need to increase the likelihood of a successful sales outcome.
You won't find any magic formulas for selling a sand and gravel handling equipment business, especially while the market is struggling to overcome the perceptions created by a down economy.
But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your sand and gravel handling equipment business.
Pre-Sale Checklist
The pre-sale checklist for a sand and gravel handling equipment business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Sale Documents
We run into a lot of sand and gravel handling equipment business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your sand and gravel handling equipment business may be a waste of time.
Closing Strategies
Today's sand and gravel handling equipment business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young sand and gravel handling equipment business owner, they can be critical launching points for their ownership journey.
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