Sell a Business Tips
Selling a Soda Fountain Equipment and Supplies Business
You've learned a lot during your tenure as a soda fountain equipment and supplies business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
You need to get a good price for your soda fountain equipment and supplies business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to soda fountain equipment and supplies businesses that exhibit strong financials and potential for future growth.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. 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. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your soda fountain equipment and supplies business until the prospect has been qualified as a serious buyer.
Broker vs. No Broker
When selling a soda fountain equipment and supplies business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your soda fountain equipment and supplies business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Setting the Stage
Effective soda fountain equipment and supplies business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium soda fountain equipment and supplies business opportunity.
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