Sell a Company Niche Market Guides
Selling a Locksmiths Business
Think locksmiths business sales have dwindled to a standstill? Think again. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Are most buyers timid about buying a locksmiths business in today's economic environment? You bet.
But at Gaebler, we see locksmiths businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Preparing Your Locksmiths Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful locksmiths business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your locksmiths business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Sale Costs
In a locksmiths business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Buyer Identification
It's difficult to predict where the buyer of your locksmiths business will come from. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. networking may also prove to be a valuable resource for identifying prospective buyers, but only to the extent that it can be done discreetly.
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