Exit Planning Advice By Market
Selling an Awning and Canopy Cleaning and Repair Business
There is a lot of confusion about the best way to sell an awning and canopy cleaning and repair business even if the seller has previous business sales experience. We'll tell you how to keep your sale and your future plans on track.
Market timing is a perennial problem for business sellers.
You'll always have an excuse for not putting your business on the market. Selling a awning and canopy cleaning and repair business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in awning and canopy cleaning and repair business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
How to Choose a Business Broker
A good business broker is your best bet for a fast and profitable business sale. During the selection process, look for brokers with a proven track record of successful awning and canopy cleaning and repair business sales. Take our word for it -- awning and canopy cleaning and repair businesses are unique businesses and you need a broker who understands how to properly market your awning and canopy cleaning and repair business to prospective buyers. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling awning and canopy cleaning and repair businesses.
Sale Preparation Timeframes
Preparing an awning and canopy cleaning and repair business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a awning and canopy cleaning and repair business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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