September 30, 2020  
 
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Selling a Business

 

Selling an Ice Makers Service and Repair Business

Market shifts affect business values and the ice makers service and repair business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an ice makers service and repair business during challenging economic times.

You need to get a good price for your ice makers service and repair business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a ice makers service and repair business sale. To improve sale outcomes, you will simply need to tailor your ice makers service and repair business to today's buyers.

Selecting a Broker

Good business brokers inevitably produce better business sales. In the ice makers service and repair business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling ice makers service and repair businesses.

Maintaining Objectivity

Emotions run high during the sale of an ice makers service and repair business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.

Turning the Tables: Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Selling to Competitors

Marketing an Ice Makers Service and Repair Business

Pre-Exit Employee Incentive Programs


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If you plan on opening an ice makers service and repair business, these guides will help you get started:

How to Start an Ice Makers Service & Repair Business

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