November 20, 2019  
 
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Selling an Archives, Records, and Documents Storage Business

You've heard the naysayers - now isn't the time to sell a archives, records, and documents storage business. But what they don't know is that many entrepreneurs see archives, records, and documents storage businesses as a smart business investment.

You won't find any magic formulas for selling an archives, records, and documents storage business, especially while the market is struggling to overcome the perceptions created by a down economy.
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At Gaebler, we're seeing archives, records, and documents storage business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.

Selling to a Family Member

Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your archives, records, and documents storage business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

Dealing with Your Emotions

Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your archives, records, and documents storage business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.

Working with Appraisers

An experienced appraiser is part and parcel of a successful archives, records, and documents storage business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in archives, records, and documents storage businesses, you might find these additional resources to be of interest.

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