How to Sell a Niche Market Business
Selling an Excavation Contractors Business
Don't believe anyone who tells you it's easy to sell an excavation contractors business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
Selling an excavation contractors business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
Too often excavation contractors business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Preparing Your Excavation Contractors Business for Sale
Like it or not, a good business sale takes time. Profitable excavation contractors business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your excavation contractors business will command in the marketplace. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. During the selection process, look for brokers with a proven track record of successful excavation contractors business sales. Take our word for it -- excavation contractors businesses are unique businesses and you need a broker who understands how to properly market your excavation contractors business to prospective buyers. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Share this article
Additional Resources for Entrepreneurs