Business Exit Planning
Selling a Marble and Terrazzo Cleaning and Service Business
Don't believe anyone who tells you it's easy to sell a marble and terrazzo cleaning and service business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
In a down economy, many marble and terrazzo cleaning and service 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 marble and terrazzo cleaning and service businesses that are actually for sale.
The economy hasn't squashed the market for marble and terrazzo cleaning and service businesses. 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.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a marble and terrazzo cleaning and service business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Average Preparation Time
It's critical to properly plan for the sale ofa marble and terrazzo cleaning and service business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a marble and terrazzo cleaning and service business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Sweetening the Deal
Today's marble and terrazzo cleaning and service business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. In the current economy, seller financing is becoming common in marble and terrazzo cleaning and service business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
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