December 3, 2020  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

Selling a Company

 

Selling a Coin Operated Car Wash and Polish Business

We hear from a lot of business owners who are timid about listing their coin operated car wash and polish business. Despite the mood of the market, we think there are still opportunities to receive a good price for your coin operated car wash and polish business. Here's what you need to know . . .

The economy isn't the only thing that is uncertain these days. So are coin operated car wash and polish business buyers, many of whom are waiting to pull the trigger on their next acquisition.
(article continues below)

Qualified buyers are constantly looking for attractive coin operated car wash and polish businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.

Signs You're in Over Your Head

The coin operated car wash and polish 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. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your coin operated car wash and polish business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.

Finding Prospects

Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.

Tips for Seller Financing

Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized coin operated car wash and polish business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Coin Operated Car Wash and Polish Business

What Does a Business Broker Charge?


Conversation Board

It's tough to cover everything there is to know about how to sell a coin operated car wash and polish business in a single article. If you have any additional comments or questions, please let us know.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Hoping to Open a Coin Operated Car Wash & Polish Business?

If starting a coin operated car wash and polish business is on your agenda, these helpul resources may be just what you've been looking for:

Opening a Coin Operated Car Wash & Polish Business

Do You Market Products or Services to Coin Operated Car Wash & Polish Businesses?

If you consider coin operated car wash and polish businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:

Selling to Coin Operated Car Wash and Polish Businesses

Mailing Lists for Coin Operated Car Wash and Polish Businesses

More Business Sale Guides

If you are looking for exit plan advice for a different kind of business, please browse our alphabetical directory of exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary