Exit Planning Techniques By Market
Selling a Fire Alarms Service and Repair Business
We hear from a lot of business owners who are timid about listing their fire alarms service and repair business. Despite the mood of the market, we think there are still opportunities to receive a good price for your fire alarms service and repair business. Here's what you need to know . . .
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to fire alarms service and repair businesses that exhibit strong financials and potential for future growth.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Moving On
The decision to sell your fire alarms service and repair business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your fire alarms service and repair business attractive to buyers.
Why Confidentiality Matters
Highly publicized fire alarms service and repair business sales are risky fire alarms service and repair businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Maintaining confidentiality isn't easy, but without it you won't get top dollar for your business. In a worse case scenario, a profitable fire alarms service and repair business can be reduced to one that is struggling to survive. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Share this article
Additional Resources for Entrepreneurs