Selling a Business Advice
Selling an Ice Skate Sharpening and Repairing Business
With the economy struggling to rebound, the shadow inventory of ice skate sharpening and repairing businesses in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful ice skate sharpening and repairing business
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
But they're also savvy enough to know a good deal when they see it. Financial statements and ROI are essential in converting modern ice skate sharpening and repairing business prospects into buyers.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your ice skate sharpening and repairing business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of an ice skate sharpening and repairing business sale by setting realistic expectations before you list your business.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and an ice skate sharpening and repairing business that languishes on the market for months or even years. Not surprisingly, seller financing is routinely requested by today's buyers. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Signs You're in Over Your Head
The ice skate sharpening and repairing business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your ice skate sharpening and repairing business is priced out of the market. Hire a broker and conduct a professional appraisal ASAP.
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