Advice on Niche Market Exit Planning
Selling a Traffic Control Services Business
A lot can go wrong during the sale of a traffic control services business even if the seller has previous business sales experience. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
The economy hasn't squashed the market for traffic control services businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based traffic control services business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Economic Considerations
When you sell a traffic control services business, there are a number of variables you need to consider. Many would-be sellers are laser-focused on economic indicators, anxiously awaiting the perfect time to list their companies. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a traffic control services business. If you don't believe your traffic control services business would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your traffic control services 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.
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