Exit Planning Techniques By Market
Selling a Fire Sprinklers Maintenance Business
You've heard the naysayers - now isn't the time to sell a fire sprinklers maintenance business. But what they don't know is that many entrepreneurs see fire sprinklers maintenance businesses as a smart business investment.
With planning and patience, most fire sprinklers maintenance businesses can be sold for a fair price in the current business-for-sale marketplace.
If you're ready to move on, now is the right time to sell your fire sprinklers maintenance business.
Selling to a Family Member
There is no easy way to sell a fire sprinklers maintenance business, not even to a family member. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Sale Costs
In a fire sprinklers maintenance business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. If you need to compensate employees to assist with the sale, their services should also be considered.
Timing the Market
Now may be the best time to sell a fire sprinklers maintenance business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on fire sprinklers maintenance businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of fire sprinklers maintenance businesses. At Gaebler, we recognize the value of timing the sale of your fire sprinklers maintenance business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
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