Business Exits By Industry
Selling a Cell Phone Repair and Installation Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your cell phone repair and installation business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
Dire economic forecasts have forced many cell phone repair and installation business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Most cell phone repair and installation businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Factoring In Economic Variables
When you sell a cell phone repair and installation business, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. In our experience, the most important factors in the sale of a cell phone repair and installation business have little to do with the economy.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your cell phone repair and installation business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based cell phone repair and installation business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Share this article
Additional Resources for Entrepreneurs