Exit Planning Techniques By Market
Selling a Furnace Cleaning and Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet furnace cleaning and repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a furnace cleaning and repair business.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a furnace cleaning and repair business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Equipment and Inventory Concerns
During due diligence, the buyer will undoubtedly conduct his own appraisal of your furnace cleaning and repair business's real assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your furnace cleaning and repair business.
Average Timeframes
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their furnace cleaning and repair business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your furnace cleaning and repair business, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive furnace cleaning and repair business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
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