You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a gas appliance repair service.
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Qualified buyers are constantly looking for attractive gas appliance repair services. 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.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. You probably have good reasons for selling your gas appliance repair service now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a gas appliance repair service. Although it's wise to recruit a business broker, brokerage isn't your only concern. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. 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 gas appliance repair service, you can avoid painful tax and legal complications both before and after closing.
Given your interest in exit planning and in gas appliance repair services, you might find these additional resources to be of interest.
If you plan on opening a gas appliance repair service, these guides will help you get started:
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