Sell a Business Tips
Selling a Sewer Line Inspection and Maintenance Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the sewer line inspection and maintenance business market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a sewer line inspection and maintenance business during challenging economic times.
You won't find any magic formulas for selling a sewer line inspection and maintenance business, especially while the market is struggling to overcome the perceptions created by a down economy.
More than a few sewer line inspection and maintenance business owners cave under the pressure and settle for a lower sales price than they should. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your sewer line inspection and maintenance business, a sale to an employee is probably not a possibility.
The Best Person to Sell Your Sewer Line Inspection & Maintenance Business
As the owner, you are both the best and worst person to sell your sewer line inspection and maintenance business. Few people know your business as well as you do. But your knowledge and personal insights about the sewer line inspection and maintenance business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the sewer line inspection and maintenance business to gain an objective sense of fair market value.
Pre-Sale Checklist
The pre-sale checklist for a sewer line inspection and maintenance 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.
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