Sell a Business Tips
Selling a Structural Steel Contractors Business
With the economy struggling to rebound, the shadow inventory of structural steel contractors businesses in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful structural steel contractors business
We're seeing a high volume of shadow inventory in the business-for-sale market.
Undaunted by economic conditions, many structural steel contractors business sellers are achieving their sale goals through deliberate sale strategies.
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your structural steel contractors business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Valuation Methods
The methods for valuing a structural steel contractors business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your structural steel contractors business based on the sales of similar businesses in your geographic area. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Finding Prospects
Whether you know it or not, prospective buyers for your structural steel contractors business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Share this article
Additional Resources for Entrepreneurs