Sell a Business for the Best Price
Selling a Pumps Service and Repair Business
Don't believe anyone who tells you it's easy to sell a pumps service and repair business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
If your exit strategy involves selling a pumps service and repair business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your pumps service and repair business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your pumps service and repair 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. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Selling a Pumps Service & Repair Business to an Employee
Although it may seem easier to sell your pumps service and repair business to an employee, this approach also has some pitfalls. 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 pumps service and repair business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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