Tips to Improve Exit Planning
Selling a Jacks Repair Business
Market shifts affect business values and the jacks repair business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a jacks repair business whem market conditions threaten a successful business sale.
If you plan on selling your jacks repair business quickly, prepare to be disappointed.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a jacks repair business sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your jacks repair business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your jacks repair business is worth. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Leveraging External Resources
Rarely, if ever, do owners sell a jacks repair business without outside assistance. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your jacks repair business's inventory, equipment, and physical assets. But you'll need to commission your own appraisal before you put your jacks repair business on the market to arm yourself with information for the negotiation phase. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your jacks repair business.
Share this article
Additional Resources for Entrepreneurs