Sell a Business for the Best Price
Selling a Parking Services Business
Is the economy still a little shaky for a business sale? Sure it is. Yet parking services businesses haven't heard the news and are reporting steady action on the business-for-sale market.
When it comes to selling a parking services business, there are no shortcuts to success.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your parking services business.
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your parking services business. Concessions can consist of non-cash as well as cash incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young parking services business owner, they can be critical launching points for their ownership journey.
Due diligence has ended and you're ready to close on the sale of your parking services business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the parking services business is coming to an end, the time to sell is now. Some experts are telling parking services business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the parking services business marketplace. The inventory of what we consider to be quality parking services businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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