Exit Planning Advice
Selling a Kennel Equipment and Supplies Business
The sale of a kennel equipment and supplies business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
In a down economy, many kennel equipment and supplies business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of kennel equipment and supplies businesses that are actually for sale.
If your exit strategy involves selling a kennel equipment and supplies business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the kennel equipment and supplies business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
Timing Your kennel equipment and supplies business Sale
If you're feeling like your tenure as the owner of the kennel equipment and supplies business is coming to an end, the time to sell is now. Some experts are telling kennel equipment and supplies business sellers (or would-be sellers) to take a wait and see approach. At Gaebler, we have a much more optimistic view of your chances in the kennel equipment and supplies business-for-sale market. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Seller Financing
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy kennel equipment and supplies businesses. As a result, buyers expect sellers to finance a significant portion of the sale. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
Share this article
Additional Resources for Entrepreneurs