September 20, 2020  
 
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Selling a Business

 

Selling an Office Furniture and Equipment Refinishing and Repair Business

You've invested time, effort, and creativity into building your office furniture and equipment refinishing and repair business. Now it's time to put that same kind of focus into selling it.

Selling a office furniture and equipment refinishing and repair business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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Growth-minded entrepreneurs also find an appealing office furniture and equipment refinishing and repair business hard to pass up. So for office furniture and equipment refinishing and repair business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.

Preparing Your Office Furniture & Equipment Refinishing & Repair Business for Sale

The outcome of a business sale is largely determined prior to a market listing. Profitable office furniture and equipment refinishing 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 office furniture and equipment refinishing and repair business, the amount of preparation you perform will have direct correlation on asking and sale prices. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.

Maximizing Sales Price

There are no simple ways to sell an office furniture and equipment refinishing and repair business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their office furniture and equipment refinishing and repair businesses.

Seller Concessions

Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.

More Exit Planning Articles

Given your interest in exit planning and in office furniture and equipment refinishing and repair businesses, you might find these additional resources to be of interest.

Marketing an Office Furniture and Equipment Refinishing and Repair Business

Five Tips for Maximizing Your Business Sale Price

Pros and Cons of Using Business Brokers

Terms of Investment Banking Agreement


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Do you have any tips on selling office furniture and equipment refinishing and repair businesses? If so, we'd love to hear from you!


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