Selling a appliance service and repair business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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You'll always have an excuse for not putting your business on the market. Selling a appliance service and repair business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. As you prepare for the sale of your appliance service and repair business, expect to be asked to finance a substantial part of the sale price.
Handling Unexpected Outcomes
When you made the decision to sell your appliance service and repair business, you had a specific set of outcomes in mind. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Objectivity is a rare commodity in a business sale. You have invested yourself in making your appliance service and repair business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Given your interest in exit planning and in appliance service and repair businesses, you might find these additional resources to be of interest.
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