Waiting for better economic times to sell your company? That's a common anthem in the small business community.
(article continues below)
Many auto detailing equipment and supplies business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Average Preparation Time
There are no effective shortcuts for selling an auto detailing equipment and supplies business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your auto detailing equipment and supplies business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your auto detailing equipment and supplies business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your auto detailing equipment and supplies business until the prospect has been qualified as a serious buyer.
In an auto detailing equipment and supplies business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of an auto detailing equipment and supplies business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
Ready to learn more? You may find these additional resources to be of interest.
If you plan on opening an auto detailing equipment and supplies business, these helpul resources may be just what you've been looking for:
If you want information on how to sell to auto detailing equipment and supplies businesses, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.