How to Sell a Niche Market Business
Selling an Environmental Services Insurance Business
A lot can go wrong during the sale of an environmental services insurance business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
If you're ready to move on, now is the right time to sell your environmental services insurance business.
Pros & Cons of a Sale to an Employee
There are both benefits and drawbacks to selling an environmental services insurance business to an employee. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based environmental services insurance business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Preparing Your Environmental Services Insurance Business for Sale
Like it or not, a good business sale takes time. Profitable environmental services insurance business listings are the culmination of a preparation process that began months or even years ahead of time. Everything you do to increase market share and profitability has a payoff in the final sale price of your environmental services insurance business. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Sale Costs
In an environmental services insurance 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. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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