"Every year, I used to get together with a client who was a business owner, and every year I would ask him, “Bruce, have you told your guys that you want them to buy the business?” He had a plan that he would eventually sell his contracting business to his senior executives, but he had yet to inform them of this fact.
“I’m not ready to yet,” he would say.
Then we would go another year, and the same thing would happen: “I’m not ready yet.” And another year. Finally, he called me one day and said, “I want to be out of here in six months.”
“Bruce,” I asked, “have you talked to your guys yet?”
“No.”
“Well, you might want to talk to them before we try to do this, because you’re an interior contractor, which means you’re only as good as your latest bid.” These types of businesses can be very hard to sell to outside buyers."
Read more at:
The Wrong Way to Sell a Business - NYTimes.com:
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.
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