November 12, 2019  
 
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Selling an Animal Rental Business

Don't believe anyone who tells you it's easy to sell an animal rental business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.

According to the experts, there is currently a large volume of shadow inventory in the animal rental business market -- businesses that are waiting to be listed until the economy recovers.
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Does that mean selling your animal rental business will be a piece of cake? No -- but you might be surprised to learn that the animal rental businesses that are selling these days are finding success though simple, common sense selling strategies.

Business Valuation

Professional appraisers can use three methods to determine the value ofan animal rental 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). In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.

Tips for Working with A Business Broker

Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the animal rental business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your animal rental business on BizBuySell.com and other online business-for-sale sites.

Laying the Groundwork

Effective animal rental business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate an animal rental business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your animal rental business on the market.

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