February 23, 2020  
 
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Selling a Company

 

Selling a Self Service Laundries Business

Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet self service laundries businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.

Dire economic forecasts have forced many self service laundries business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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If you're ready to move on, now is the right time to sell your self service laundries business.

Family Business Sale Tips

The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based self service laundries business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

Preparing Your Self Service Laundries Business for Sale

The outcome of a business sale is largely determined prior to a market listing. Profitable self service laundries business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your self service laundries business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.

Maximizing Sales Price

There are no simple ways to sell a self service laundries business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their self service laundries businesses.

More Exit Planning Articles

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

Marketing a Self Service Laundries Business

Why Most Businesses Do Not Have Exit Plans

Selling Part of a Business

How Much Is My Business Worth?


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