You need to get a good price for your grease collection services business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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If you're ready to move on, now is the right time to sell your grease collection services business.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your grease collection services business. 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. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your grease collection services business until the prospect has been qualified as a serious buyer.
Hoping for a quick grease collection services business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare a grease collection services business for sale and many sellers spend a year or more positioning their business to command a higher price. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the grease collection services business-for-sale market, where aggressive selling strategies are the norm. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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