How to Sell a Niche Market Business
Selling an Estimators Business
A lot can go wrong during the sale of an estimators 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.
These days, the prospect of selling an estimators business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
They require careful planning and an intentional strategy that emphasizes your estimators business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your estimators business, it's likely that you will be the front line negotiator. A solo negotiation is a surefire way to may a tough job even tougher. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Current Market Conditions
Today's estimators business sellers face an intimidating economic landscape. 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. Like it or not, the time to sell your estimators business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Advantages of Hiring a Broker
Brokers give estimators business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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