Sell a Business for the Best Price
Selling a Pay Phone Booths, Equipment, and Service Business
Market perceptions play a role in your ability to sell a pay phone booths, equipment, and service business. Yet great values are always received well in the business-for-sale marketplace. Now all you have to do is convince the right buyer that your business is built for long-term success.
The economy isn't the only thing that is uncertain these days. So are pay phone booths, equipment, and service business buyers, many of whom are waiting to pull the trigger on their next acquisition.
The economy hasn't squashed the market for pay phone booths, equipment, and service businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your pay phone booths, equipment, and service business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based pay phone booths, equipment, and service business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
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