Exit Planning Advice By Market
Selling an Artesian Well Contractors Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet artesian well contractors businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your artesian well contractors business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. 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.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized artesian well contractors business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
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