Niche Exit Planning Tactics
Selling a Water Well Locating Business
When it's time to sell your water well locating business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
Intimidated by a sluggish economy, business buyers are more cautious than ever.
There are many factors involved with the decision to sell a business. That's why we think it's important for water well locating business owners to know that it's possible to sell a business in any economy. The key is to go into the sale with your eyes open and with complete awareness of market condition.
What to Expect in a Water Well Locating Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your water well locating business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your water well locating business is worth. Although it isn't easy, you can mitigate the emotional impact of a water well locating business sale by setting realistic expectations before you list your business.
Sale Costs
In a water well locating business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
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