Sell a Business Tips
Selling a Steam Cleaning Equipment Repair Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet steam cleaning equipment repair businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. As a consequence, you have a substantial stake in knowing how to receive maximum price for your steam cleaning equipment repair business.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a steam cleaning equipment repair 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. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Preparing Your Steam Cleaning Equipment Repair Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive steam cleaning equipment repair business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your steam cleaning equipment repair business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Seller Financing
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy steam cleaning equipment repair businesses. As a result, buyers expect sellers to finance a significant portion of the sale. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
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