October 19, 2019  
 
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Selling a Business

 

Selling a Pressure Washer Repair Business

We hear it all the time: "This economy is a hostile environment for a business sale." However, pressure washer repair businesses haven't heard the news and are reporting steady action on the business-for-sale market.

Personal and professional concerns surround the sale of a pressure washer repair business. In our experience, a common owner concern is how the sale will affect customers and employees.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.

Adjusting Expectations

When you made the decision to sell your pressure washer repair business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your pressure washer repair business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.

When Is the Right Time to Sell?

When is it the right time to sell your pressure washer repair business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling pressure washer repair business owners to wait for a better economy to put their business on the market. But despite the negativity that exists in some sectors, if you have a desire to sell your pressure washer repair business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality pressure washer repair businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

The Case for Confidentiality

In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.

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