November 15, 2019  
 
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Selling a Business

 

Selling an Auto Washing and Polishing Equipment and Supplies Retail Business

We hear from a lot of business owners who are timid about listing their auto washing and polishing equipment and supplies retail business. Despite the mood of the market, we think there are still opportunities to receive a good price for your auto washing and polishing equipment and supplies retail business. Here's what you need to know . . .

Dire economic forecasts have forced many auto washing and polishing equipment and supplies retail business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to auto washing and polishing equipment and supplies retail businesses that exhibit strong financials and potential for future growth.

Advertising Your Sale

Successful auto washing and polishing equipment and supplies retail business sales begin with a carefully planned advertising and promotional strategies. But if you think advertising your auto washing and polishing equipment and supplies retail business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. There are multiple ways to promote an auto washing and polishing equipment and supplies retail business sale, many of which require the assistance of a professional business broker.

Valuation Methods

The methods for valuing an auto washing and polishing equipment and supplies retail business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. All three methods have multiple variations and it's not uncommon for appraisers to use a combination of the three to determine the value of your business. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.

Advantages of Hiring a Broker

A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Second, a good business broker is a master at confidentiality locating auto washing and polishing equipment and supplies retail business sale prospects and guiding sellers through negotiations. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.

More Info on Business Transitions and Related Articles

We think you may find these additional resources to be of interest.

Marketing an Auto Washing and Polishing Equipment and Supplies Retail Business

Why Most Businesses Do Not Have Exit Plans

Terms of Investment Banking Agreement

How to Sell a Business


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We always appreciate feedback from our readers. If you have any comments, suggestions, or questions about how to sell an auto washing and polishing equipment and supplies retail business, we encourage you to get in touch with us today!


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