Sell a Business for the Best Price
Selling a Parking Meters Business
You've invested time, effort, and creativity into building your parking meters business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Personal and professional concerns surround the sale of a parking meters business. In our experience, a common owner concern is how the sale will affect customers and employees.
Despite the conventional wisdom, we believe current economic conditions are right for selling a parking meters business. With the right information and strategy, you could be well on your way to a successful sale
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your parking meters business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Maximizing Sales Price
There are no simple ways to sell a parking meters business. If you don't know what you're doing, your business could languish on the market for months or even years. A business broker handles much of the legwork involved in the sale. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
Business Valuation
The methods for valuing a parking meters business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Using recent parking meters business sales as its foundation, the market method factors market conditions into the valuation process. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Share this article
Additional Resources for Entrepreneurs