Sell a Business Tips
Selling a Sand and Gravel Hauling Business
You've learned a lot during your tenure as a sand and gravel hauling business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
You need to get a good price for your sand and gravel hauling business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
However, serious buyers also understand the value of a good sand and gravel hauling business. So for sand and gravel hauling business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your sand and gravel hauling business. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions sand and gravel hauling business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
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