Sell a Business for the Best Price
Selling a Parking Business
For the right sellers, the business-for-sale marketplace is a friendly environment for parking business opportunities. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
According to the experts, there is currently a large volume of shadow inventory in the parking business market -- businesses that are waiting to be listed until the economy recovers.
There is no simple way to sell a business. But the most prepared parking business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
When the Sale Goes Off-Course
The parking business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your parking business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
Advertising Your Sale
Successful parking business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing parking business sales while maintaining the confidentiality that is critical to your business.
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