Sell a Business Tips
Selling a Spas and Hot Tubs Service and Repair Business
When it's time to sell your spas and hot tubs service and repair business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
Cutting corners never pays off, especially in the sale of a spas and hot tubs service and repair business.
In today's market, there is still plenty of room for spas and hot tubs service and repair businesses that demonstrate solid earning capacity and a robust market position.
How Much Does It Cost to Sell a spas and hot tubs service and repair business?
In a spas and hot tubs service and repair business sale, pricing is based on a number of factors, including the costs incurred during the sale. 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 spas and hot tubs service and repair business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. On the one hand, confidentiality is critical for a successful spas and hot tubs service and repair business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the spas and hot tubs service and repair business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
Timing the Market
Timing is everything when it comes to selling a spas and hot tubs service and repair business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on spas and hot tubs service and repair businesses. When the economy recovers there will be more spas and hot tubs service and repair business buyers on the market, but higher interest rates could present challenges. 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.
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