Niche Market Exit Planning Tips
Selling a Billiard Table Service and Repair Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your billiard table service and repair business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Personal and professional concerns surround the sale of a billiard table service and repair business. In our experience, a common owner concern is how the sale will affect customers and employees.
But they're also savvy enough to know a good deal when they see it. To sell your billiard table service and repair business, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.
The methods for valuing a billiard table service and repair 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. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Setting the Stage
A successful billiard table service and repair business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium billiard table service and repair business opportunity.
Working with a Professional Accountant
Accountants come into play at several stages of the sale process. Before your billiard table service and repair business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
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