Niche Exit Planning Tactics
Selling a Water Extraction and Damage Restoration Business
There are no guarantees when you sell a water extraction and damage restoration business. But our tips will equip you with the information you need to increase the likelihood of a successful sales outcome.
It's a fact: Successful business sales take time.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a water extraction and damage restoration business sale. To improve sale outcomes, you will simply need to tailor your water extraction and damage restoration business to today's buyers.
Why Confidentiality Matters
Highly publicized water extraction and damage restoration business sales are risky water extraction and damage restoration businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Finding Prospects
Whether you know it or not, prospective buyers for your water extraction and damage restoration 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. Although some water extraction and damage restoration business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Working with Appraisers
An experienced appraiser is part and parcel of a successful water extraction and damage restoration business sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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