Exit Planning Techniques By Market
Selling a Fire and Water Damage Cleaning and Restoration Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the fire and water damage cleaning and restoration business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a fire and water damage cleaning and restoration business during challenging economic times.
Dire economic forecasts have forced many fire and water damage cleaning and restoration business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
If your exit strategy involves selling a fire and water damage cleaning and restoration business now, business sellers may need to apply a combination of incentives and techniques.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your fire and water damage cleaning and restoration business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Closing Strategies
Today's fire and water damage cleaning and restoration business buyers expect sellers to offer concessions to persuade them to close the deal. 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 fire and water damage cleaning and restoration business owner, they can be critical launching points for their ownership journey.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a fire and water damage cleaning and restoration business sale. Most fire and water damage cleaning and restoration business have significant tax consequences requiring the input of a qualified accountant. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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