Sell a Business for the Best Price
Selling a Parking Facilities Business
Economic uncertainty influences the timing of many parking facilities business sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your parking facilities business on the market.
It's a fact: Successful business sales take time.
Does that mean selling your parking facilities business will be a piece of cake? No -- but you might be surprised to learn that the parking facilities businesses that are selling these days are finding success though simple, common sense selling strategies.
Pros & Cons of a Sale to an Employee
There are both benefits and drawbacks to selling a parking facilities business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based parking facilities business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Leveraging Industry Connections
Today's parking facilities business buyers can be found in a variety of locations. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
What to Expect in a Parking Facilities Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your parking facilities business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a parking facilities business sale by setting realistic expectations before you list your business.
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