Exit Planning Techniques By Market
Selling a Fan Repair Business
Don't believe anyone who tells you it's easy to sell a fan repair business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
You need to get a good price for your fan repair business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
There are many factors involved with the decision to sell a business. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a fan repair business sale. To improve sale outcomes, you will simply need to tailor your fan repair business to today's buyers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
What to Expect in a Fan Repair Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your fan repair business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your fan repair business is worth. Although it isn't easy, you can mitigate the emotional impact of a fan repair business sale by setting realistic expectations before you list your business.
Broker vs. No Broker
When selling a fan repair business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. 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 fan repair business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs