Sell a Business Tips
Selling a Security Equipment Repair Business
Owning a security equipment repair business hasn't always been a bed of roses, but it's been worth the effort. Now the trick is to convince cautious buyers that your operation is worth the asking price.
The economy isn't the only thing that is uncertain these days. So are security equipment repair business buyers, many of whom are waiting to pull the trigger on their next acquisition.
The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your security equipment repair business, you could be waiting a while. If your business is ready to be sold, the time to sell is now. To improve sale outcomes, you will simply need to tailor your security equipment repair business to today's buyers.
Selling a Security Equipment Repair Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your security equipment repair business, a sale to an employee is probably not a possibility.
Leveraging Industry Connections
These days, security equipment repair business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. The downside of industry networks is that it leaves your company vulnerable to exploitation by competitors. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Timing the Market
Now may be the best time to sell a security equipment repair business. Although the economy is generally struggling, low interest rates make security equipment repair businesses more attractive to entrepreneurs who want to get in the game. Sooner or later, rates will rise, increasing the risk for prospective buyers of security equipment repair businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Share this article
Additional Resources for Entrepreneurs