Niche Exit Planning Tactics
Selling a Wrecking and Demolition Contractors Business
You've invested time, effort, and creativity into building your wrecking and demolition contractors business. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact wrecking and demolition contractors business sales nearly as much as sale strategy.
If you're ready to move on, now is the right time to sell your wrecking and demolition contractors business.
Dealing with Tire Kickers
Many prospective buyers will have a strong desire to acquire your wrecking and demolition contractors business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your wrecking and demolition contractors business until the prospect has been qualified as a serious buyer.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. If you need to compensate employees to assist with the sale, their services should also be considered.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your wrecking and demolition contractors business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
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