Business Exits By Industry
Selling a Carpet, Rug, and Upholstery Cleaning Commercial and Industrial Business
You've learned a lot during your tenure as a carpet, rug, and upholstery cleaning commercial and industrial business owner. Now the trick is to convince cautious buyers that your operation is worth the asking price.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
There is no simple way to sell a business. But the most prepared carpet, rug, and upholstery cleaning commercial and industrial business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Average Preparation Time
There are no effective shortcuts for selling a carpet, rug, and upholstery cleaning commercial and industrial business. 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 carpet, rug, and upholstery cleaning commercial and industrial 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.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your carpet, rug, and upholstery cleaning commercial and industrial business. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. 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.
Leveraging External Resources
Rarely, if ever, do owners sell a carpet, rug, and upholstery cleaning commercial and industrial business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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