February 18, 2020  
 
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Selling a Speedometers Service and Repair Business

Business-for-sale markets are susceptible to a variety of influences. As you know, the speedometers service and repair business marketplace has been a shaky environment for sellers. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a speedometers service and repair business during challenging economic times.

Personal and professional concerns surround the sale of a speedometers service and repair business. In our experience, a common owner concern is how the sale will affect customers and employees.
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However, serious buyers also understand the value of a good speedometers service and repair business. So for speedometers service and repair business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Benefits of Third-Party Assistance

Rarely, if ever, do owners sell a speedometers 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. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.

Preparing Your Speedometers Service & Repair Business for Sale

The outcome of a business sale is largely determined prior to a market listing. Successful speedometers service and repair business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Even though it may take years to adequately position your speedometers service and repair business, the amount of preparation you perform will have direct correlation on asking and sale prices. 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.

Selling to a Family Member

The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based speedometers service and repair business sale can be more complicated than selling to a stranger. In fact, selling your speedometers service and repair business to a family member can quickly become a no-win proposition. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.

More Exit Planning Articles

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

Marketing a Speedometers Service and Repair Business

Selling to Competitors

Selling Part of a Business

Entrepreneurial Exit Strategies


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