Niche Exit Planning Strategies
Selling a Dry Cleaners Equipment and Supplies Business
Most businesses are susceptible to economic conditions and dry cleaners equipment and supplies businesses are no exception. But in some cases, a down economy can actually improve saleability. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
These days, the prospect of selling a dry cleaners equipment and supplies business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
More than a few dry cleaners equipment and supplies 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.
Working with Appraisers
An experienced appraiser is part and parcel of a successful dry cleaners equipment and supplies business sale. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great dry cleaners equipment and supplies business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your dry cleaners equipment and supplies business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
When Is the Right Time to Sell?
When is it the right time to sell your dry cleaners equipment and supplies business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling dry cleaners equipment and supplies business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the dry cleaners equipment and supplies business marketplace. With fewer dry cleaners equipment and supplies businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
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