March 29, 2020  
 
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Selling a Company

 

Selling a Bicycle Repair and Maintenance Business

Selling a bicycle repair and maintenance business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.

In a down economy, many bicycle repair and maintenance business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of bicycle repair and maintenance businesses that are actually for sale.
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But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your bicycle repair and maintenance business.

Pre-Sale Checklist

The upfront time you investment in the sale of your bicycle repair and maintenance business will pay big dividends at closing. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

Are You the Right Person to Sell Your Business?

An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your bicycle repair and maintenance business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.

Buyer Identification

It's difficult to predict where the buyer of your bicycle repair and maintenance business will come from. Avoid pigeon-holing your search to a single buyer category. That means listing your bicycle repair and maintenance business in trade-specific directories as well as general business-for-sale databases. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.

More Exit Planning Articles

Given your interest in exit planning and in bicycle repair and maintenance businesses, you might find these additional resources to be of interest.

Marketing a Bicycle Repair and Maintenance Business

How Much Is My Business Worth?

Renewing Leases Prior to Selling a Business

Pre-Exit Employee Incentive Programs


Conversation Board

Want to continue the discussion about how to sell a bicycle repair and maintenance business? If you have firsthand knowledge about exit planning issues and challenges, we invite you to submit your comments. Questions are also encouraged!


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