Niche Market Exit Planning Tips
Selling a Burglar Alarms Installation, Service, and Repair Business
There's a right way and a wrong way to sell a burglar alarms installation, service, and repair business in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a burglar alarms installation, service, and repair business.
Broker vs. No Broker
Anyone who has ever sold a burglar alarms installation, service, and repair business has eventually needed to decide whether to use a business broker or go it alone. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a burglar alarms installation, service, and repair business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your burglar alarms installation, service, and repair business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your burglar alarms installation, service, and repair business, it's likely that you will be the front line negotiator. But although you will responsible for negotiating terms with buyers, you should never approach negotiations without support. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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