Sell a Business Tips
Selling a Stoves Service and Repair Business
No one said selling your business in a depressed economy would be easy. But selling your stoves service and repair business doesn't have to be as daunting as it sounds.
In a down economy, many stoves service and repair business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of stoves service and repair businesses that are actually for sale.
Most stoves service and repair businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Laying the Groundwork
Effective stoves service and repair business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a stoves service and repair business to the marketplace. Financial statements, appraisals, operations manuals and other documents lay the foundation for your stoves service and repair business sale, creating incentives for prospects to agree to a higher asking price.
Valuation Methods
The methods for valuing a stoves service and repair business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. The income method determines value based on the amount of income the business is expected to generate. The asset method, on the other hand, is based on the value of tangible and non-tangible assets (e.g. brands and trademarks). In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your stoves service and repair business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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