Exit Planning Advice By Market
Selling an Architectural Programming Firm
When it's time to sell your architectural programming firm, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an architectural programming firm.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your architectural programming firm sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Whether you realize it or not, your architectural programming firm has been an important part of your family life. The sale of the business will likely result in new family dynamics. Subsequently, selling an architectural programming firm has to include ample communication and shared decision-making.
Post-Sale Details
As your architectural programming firmsale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
The Case for Confidentiality
Confidentiality determines risk in the business-for-sale marketplace. If you are rigorous about maintaining a confidential sale, there is little risk in putting your architectural programming firm 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. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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