My dad is preparing to sell his construction services company. It was valued at $1M, he’s got 3 potential buyers lined up and isn’t interested in selling to any big name companies that will just consume the company; not keep it going.
How do we go about selling the business without a broker. ~10% broker fees seem ridiculously high when there are already buyers lined up.
What am I not thinking of? Any and all advice and direction greatly appreciated!
The broker involved in the business we purchased did as much harm as good. Good luck and update us on how it goes.
I’d avoid any sort of earn-out on the price and be very sure you’ve fully disclosed AR, AP and any backlog or pipeline. This is where bad things happen in valuations.