Exit Planning Tips
Selling a House Cleaning Business
You've invested time, effort, and creativity into building your house cleaning business. To see your ownership role through to completion, you will need to exhibit similar diligence in selling your company.
Are most buyers timid about buying a house cleaning business in today's economic environment? You bet.
Most house cleaning businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Selling a House Cleaning Business to an Employee
Employee sales have pros and cons. A key employee may seem like a natural sales prospect. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based house cleaning business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Leveraging Industry Connections
Today's house cleaning business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Realistic Expectations
Objectivity is a rare commodity in a business sale. 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. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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