Niche Exit Planning Tactics
Selling a Waste Management Business
The decision to sell your waste management business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a waste management business.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the waste management business market and locate potential buyers ASAP.
Timing the Market
Now may be the best time to sell a waste management business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on waste management businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in waste management business sales. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
When to End Negotiations
The negotiation stage of a waste management business can seem never-ending. Yet eventually many negotiations reach a stage where further discussion is pointless. In a waste management business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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