Exit Planning Advice
Selling a Kiosk Business
We hear from a lot of business owners who are timid about listing their kiosk business. Despite the mood of the market, we think there are still opportunities to receive a good price for your kiosk business. Here's what you need to know . . .
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
However, serious buyers also understand the value of a good kiosk business. So for kiosk business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood kiosk business sellers with questions and requests, often to the point of becoming a nuisance. The questions kiosk business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Maximizing Sales Price
There are no simple ways to sell a kiosk business. If you don't know what you're doing, your business could languish on the market for months or even years. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. Time after time, sellers who hire qualified brokers are more satisfied with the sales process - and the price they receive for their kiosk businesses.
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