Sell a Company Niche Market Guides
Selling a Lockers Business
Your lockers business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a lockers business sale works.
Many business owners don't know that lockers businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your lockers business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your lockers business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
How to Increase Sale Price
A successful lockers business requires an investment of both time and money. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their lockers businesses.
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