September 24, 2020  
 
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Selling a Dry Cleaners Equipment Service and Repair Business

There are no guarantees when you sell a dry cleaners equipment service and repair business. But our tips will equip you with the information you need to increase the likelihood of a successful sales outcome.

You need to get a good price for your dry cleaners equipment service and repair business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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If you're looking for a reason to wait to put your business on the market, you'll find it. Selling a dry cleaners equipment service and repair business isn't easy, but we believe sellers can achieve their goals in any economic environment.

Realistic Expectations

Emotions run high during the sale of a dry cleaners equipment service and repair business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.

Seller Financing

Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized dry cleaners equipment service and repair 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.

Leveraging External Resources

Rarely, if ever, do owners sell a dry cleaners equipment service and repair business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your dry cleaners equipment service and repair business, you can avoid painful tax and legal complications both before and after closing.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in dry cleaners equipment service and repair businesses, you might find these additional resources to be of interest.

Role of Location In Selling a Business

Marketing a Dry Cleaners Equipment Service and Repair Business

Why Most Businesses Do Not Have Exit Plans


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