Exit Planning Advice By Market
Selling an Aquarium Maintenance Service
You've heard the naysayers - now isn't the time to sell a aquarium maintenance service. But what they don't know is that many entrepreneurs see aquarium maintenance services as a smart business investment.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an aquarium maintenance service sale works.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a aquarium maintenance service.
Current Market Conditions
No one plans to sell an aquarium maintenance service in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your aquarium maintenance service as attractive as possible so to buyers right now.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your aquarium maintenance service. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. The more people who know that the business is on the market, the riskier the sale becomes. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
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