Selling Your WCO Business Part 3
This article is part of a 5-part series. These blogs were originally published as “Selling Your Company” Wildlife Control Technology Magazine Sept/Oct 1999. Disclaimer: Article for informational purposes and is not to replace good legal counsel.
Advertising for Buyers
Obviously the options here are endless. I would suggest a low cost approach unless your company is worth well over 100,000 dollars. If it is worth more than that you might want to consider a business broker. Their fees can be steep. I called one and found out that he charged 30% of the gross sale. To my mind that is fairly expensive others charge 10-15% of the gross sale but that price only covers the cost of finding a buyer, which is no small task as brokers must perform a great deal of work to find a good buyer willing to pay a good price. Given how small our industry is the broker will have to work very hard to find a buyer. Don’t be afraid to negotiate the terms of the commission. You might be able to find a business broker willing to work for less money. Another option is to hire a broker as a consultant. A+ Business Broker Inc. out of Florida says they consult with potential sellers for 250 dollars an hour (1-800-707-8899). That is still a lot of money but the advice could be well worth it. (Don’t be afraid to make the broker prove their competence and always seek to understand what you are paying for.
You can also try to sell your business by yourself. You can get the word out through your state association newsletter, local exterminators, businesses that refer to you etc. If you want to spend for advertising, you can place ads in WCT, pest control magazines or national trapping magazines. You can also advertise on the internet. For example, American Investor Business Brokers is located on the web at http://aibb.com/fsbo/index.htm They will even allow you to offer your business on the web for no commission. You just pay a fee to advertise the company on the web. As with all brokers and paid advertising, make sure you understand what you are getting in return for payment. Ask tough questions about their abilities and successes. Remember they are supposed to be working for you.
About the Author
Stephen M. Vantassel is a Certified Wildlife Control Operator (CWCP®) who helps individuals, businesses, and agencies resolve wildlife damage issues through training, writing, expert witness, and research. His latest books are the Wildlife Damage Inspection Handbook, 3rd edition and The Practical Guide to the Control of Feral Cats. He can be contacted at wildlifecontrolconsultant at gmail dot com.
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