You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a street cleaning business.
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Although it takes hard work and dedication, if it's time to exit your street cleaning business there is a good chance you can sell it for a good price -- even in today's market.
Preparing Family Members
Many sellers embarked on their street cleaning business sale without adequately considering the impact it will have on their families. Whether you realize it or not, your street cleaning business has been an important part of your family life. Unless everyone is prepared for it, the sale could have a devastating effect on your family. The decision to sell a street cleaning business often begins with a family conversation and a mutual decision to move on the next stage of life.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a street cleaning business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Professional appraisers can use three methods to determine the value ofa street cleaning business: The income method, the asset method and the market method. The income method determines value based on the amount of income the business is expected to generate. The asset method, on the other hand, is based on the value of tangible and non-tangible assets (e.g. brands and trademarks). Finally, the market method determines the worth of your street cleaning business based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
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