Selling a Business Advice
Selling an Ice Makers Service and Repair Business
Market shifts affect business values and the ice makers service and repair business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an ice makers service and repair business during challenging economic times.
You need to get a good price for your ice makers service and repair business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a ice makers service and repair business sale. To improve sale outcomes, you will simply need to tailor your ice makers service and repair business to today's buyers.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the ice makers service and repair business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling ice makers service and repair businesses.
Maintaining Objectivity
Emotions run high during the sale of an ice makers service and repair business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Share this article
Additional Resources for Entrepreneurs