Just like any important decision, the question of selling your steel company should not be made hastily.
Steel fabricators and manufacturers face a unique set of challenges when it comes to exit planning, everything from owner dependency on key estimators and project managers, to concentration risk from long-term general contractor relationships, to understanding what buyers in your industry are willing to pay. Getting these right can mean the difference between a successful exit and a costly one.
Every business owner and every company is different, yet there are some universal signs that business owners can use to help determine if they are ready to begin the sale process. (Remember, it typically takes nine to twelve months to sell a company once the process has started.) Overlooking any one of these signs can lead to a significant amount of lost sale value or derail the sale altogether. Because most business owners exit only once, it is important to learn what is involved in getting ready to sell before you start the process—otherwise you risk discovering halfway through that you missed something critical.
This guide explores each of the ten signs and offers resources to help owners address each issue. At the conclusion, it identifies further steps to help you prepare for the sale of your company.
