Sell a Business for the Best Price
Selling a Patio and Sidewalk Cleaning Services Business
Economic uncertainty influences the timing of many patio and sidewalk cleaning services 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 patio and sidewalk cleaning services business on the market.
Selling a patio and sidewalk cleaning services business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your patio and sidewalk cleaning services business in a way that achieves positive outcomes for you and the business.
Preparing for What's Next
The decision to sell your patio and sidewalk cleaning services business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your patio and sidewalk cleaning services 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.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. Not surprisingly, seller financing is routinely requested by today's buyers. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a patio and sidewalk cleaning services business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Share this article
Additional Resources for Entrepreneurs