Exit Planning Strategies
Selling a Video Game Service and Repair Business
When it's time to sell your video game service and repair business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a video game service and repair business, but have limited capital to get their foot in the door.
The good news is that ambitious entrepreneurs continue to see video game service and repair businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your video game service and repair business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your video game service and repair business.
Laying the Groundwork
A successful video game service and repair business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a video game service and repair business to the marketplace. Financial statements, appraisals, operations manuals and other documents lay the foundation for your video game service and repair business sale, creating incentives for prospects to agree to a higher asking price.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs