Niche Exit Planning Tactics
Selling a Water Mains and Waterworks Business
It's a misconception that no one is buying water mains and waterworks businesses these days. Savvy entrepreneurs see water mains and waterworks business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
You need to get a good price for your water mains and waterworks business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to water mains and waterworks businesses that exhibit strong financials and potential for future growth.
When to End Negotiations
If the devil is in the details, the negotiation stage of a water mains and waterworks business sale is the devil's playground. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. It's not unusual for a water mains and waterworks business sale negotiation to reach an impasse over price or other concessions. 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.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your water mains and waterworks business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
The Best Person to Sell Your Water Mains & Waterworks Business
As the owner, you are both the best and worst person to sell your water mains and waterworks business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your water mains and waterworks business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the water mains and waterworks business to gain an objective sense of fair market value.
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