Advice on Niche Market Exit Planning
Selling a Tree and Stump Removal Services Business
Your tree and stump removal services business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a tree and stump removal services business, but have limited capital to get their foot in the door.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your tree and stump removal services business.
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Preparing Family Members
Many sellers embarked on their tree and stump removal services business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a tree and stump removal services business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Selling a Tree & Stump Removal Services Business to an Employee
Although it may seem easier to sell your tree and stump removal services business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. 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. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
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