Selling a Company Advice
Selling an Uniform Rental and Cleaning Service Business
Over the past few years, the uniform rental and cleaning service business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling an uniform rental and cleaning service business during challenging economic times.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
A uniform cleaning or uniform rental business can be a great business opportunity.
There are still plenty of uniform rental and cleaning service business buyers looking for opportunities that present well in the marketplace.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Selling an Uniform Rental & Cleaning Service Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based uniform rental and cleaning service business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Should I Hire a Business Broker?
When selling an uniform rental and cleaning service business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your uniform rental and cleaning service business sits on the market. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your uniform rental and cleaning service business on BizBuySell.com and other popular online business-for-sale listing sites.
Share this article
Additional Resources for Entrepreneurs