Business Exits By Industry
Selling a Cash Drawers Business
It's a misconception that no one is buying cash drawers businesses these days. Savvy entrepreneurs see cash drawers business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
It takes dedication to sell a cash drawers business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Too often cash drawers business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Finding Cash Drawers Business Buyers
It's difficult to predict where the buyer of your cash drawers business will come from. Avoid pigeon-holing your search to a single buyer category. Many sellers achieve success by listing their cash drawers businesses in multiple channels. Networking is another useful tool in locating buyers. It might surprise you to learn how many cash drawers business buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Are You the Right Person to Sell Your Business?
As the owner, you are both the best and worst person to sell your cash drawers business. Few people know your business as well as you do. But your knowledge and personal insights about the cash drawers business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the cash drawers business to gain an objective sense of fair market value.
Current Market Conditions
Today's cash drawers business sellers face an intimidating economic landscape. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your cash drawers business as attractive as possible so to buyers right now.
Share this article
Additional Resources for Entrepreneurs