January 25, 2021  
 
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Selling a Company

 

Selling a Plumbing Service and Repair Business

Most businesses are susceptible to economic conditions and plumbing service and repair businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.

The economy isn't the only thing that is uncertain these days. So are plumbing service and repair business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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There are many factors involved with the decision to sell a business. That's why we think it's important for plumbing service and repair business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your plumbing service and repair business to today's buyers.

Benefits of Third-Party Assistance

Rarely, if ever, do owners sell a plumbing service and repair business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.

What to Expect in a Plumbing Service & Repair Business Sale

It's impossible to predict the emotional highs and lows you will experience during the sale of your plumbing service and repair business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.

Seller Concessions

In the current marketplace, seller concessions can make the difference between a business sale and a plumbing service and repair business that languishes on the market for months or even years. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a plumbing service and repair business can translate into a dead deal. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in plumbing service and repair businesses, you might find these additional resources to be of interest.

Marketing a Plumbing Service and Repair Business

Renewing Leases Prior to Selling a Business

Pros and Cons of Using Business Brokers

How Much Is My Business Worth?


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We always appreciate feedback from our readers. If you have any comments, suggestions, or questions about how to sell a plumbing service and repair business, we encourage you to get in touch with us today!


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