Niche Exit Planning Strategies
Selling a Dog and Cat Grooming and Boarding 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 dog and cat grooming and boarding business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Market timing is a perennial problem for business sellers.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your dog and cat grooming and boarding business.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your dog and cat grooming and boarding business. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young dog and cat grooming and boarding business owner, they can be critical launching points for their ownership journey.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a dog and cat grooming and boarding business. A business broker handles much of the legwork involved in the sale. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their dog and cat grooming and boarding businesses.
Average Preparation Time
It's critical to properly plan for the sale ofa dog and cat grooming and boarding business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey dog and cat grooming and boarding business operation. Since all of this takes time and effort, a dog and cat grooming and boarding business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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