Sell a Business Tips
Selling a Self Service Moving and Storage Business
Although a self service moving and storage business may not be completely recession-proof, the best companies can survive nearly any storm. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
Selling a self service moving and storage business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
You'll always have an excuse for not putting your business on the market. Selling a self service moving and storage business isn't easy, but we believe sellers can achieve their goals in any economic environment.
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. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Working with a Professional Accountant
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. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Realistic Expectations
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Share this article
Additional Resources for Entrepreneurs