Business Exit Planning
Selling a Meters Repair Business
Many business leaders say that now isn't the time to try to sell a meters repair business. At Gaebler, we think it's a great time to sell a meters repair business. Here's why . . ..
When it comes to selling a meters repair business, there are no shortcuts to success.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a meters repair business.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your meters repair business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. A pre-listing appraisal also gives you the opportunity to document the condition of your meters repair business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Preparing for What's Next
What will happen if your meters repair business is a success? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your meters repair business. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the meters repair business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your meters repair business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your meters repair business on BizBuySell.com and other online business-for-sale sites.
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