Sell a Business Tips
Selling a Saw Rental Business
Your saw rental business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Despite your best intentions, great business sales don't happen overnight.
But at Gaebler, we see saw rental businesses still selling at a brisk pace. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
What to Expect in a Saw Rental Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your saw rental business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a saw rental business sale by setting realistic expectations before you list your business.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the saw rental business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
Signs You're in Over Your Head
Many saw rental business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.
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