Exit Planning Advice By Market
Selling an Armored Car Service
You've learned a lot during your tenure as an armored car service owner. The next step is to position your business for the demands of the business-for-sale marketplace.
In any economy, there is a right way and a wrong way to sell a business.
Most armored car services are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Although you will pay a fee for brokerage, it's generally worth it because the end result will be a higher sales prices and more favorable terms.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized armored car service buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Laying the Groundwork
Effective armored car service preparation focuses on communicating value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Financial statements, appraisals, operations manuals and other documents lay the foundation for your armored car service sale, creating incentives for prospects to agree to a higher asking price.
Share this article
Additional Resources for Entrepreneurs