November 15, 2019  
 
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Selling a Company

 

Selling an Auto Washing and Polishing Business

You've invested time, effort, and creativity into building your auto washing and polishing business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.

The process of selling an auto washing and polishing business can be one of the most stressful experiences of your entrepreneurial career.
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The good news is that ambitious entrepreneurs continue to see auto washing and polishing businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.

Identifying Serious Buyers

Unfortunately, many of the prospects you will encounter aren't serious buyers. 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 washing and polishing business until the prospect has been qualified as a serious buyer.

Timing Your auto washing and polishing business Sale

When is it the right time to sell your auto washing and polishing business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling auto washing and polishing business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the auto washing and polishing business marketplace. The inventory of what we consider to be quality auto washing and polishing businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

Handling Unexpected Outcomes

Every business seller dreams of a fast sale and a fat payday. 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. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your auto washing and polishing business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in auto washing and polishing businesses, you might find these additional resources to be of interest.

Marketing an Auto Washing and Polishing Business

Terms of Investment Banking Agreement

How To Choose An Investment Banker

Entrepreneurial Exit Strategies


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If you plan on opening an auto washing and polishing business, these guides will help you get started:

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