Exit Planning Strategies
Selling a Vacuum Cleaner Sales and Service Business
You've heard the naysayers - now isn't the time to sell a vacuum cleaner sales and service business. But what they don't know is that many entrepreneurs see vacuum cleaner sales and service businesses as a smart business investment.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a vacuum cleaner sales and service business, but have limited capital to get their foot in the door.
There are still plenty of vacuum cleaner sales and service business buyers looking for opportunities that present well in the marketplace.
Average Preparation Time
There are no effective shortcuts for selling a vacuum cleaner sales and service business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey vacuum cleaner sales and service business operation. At a minimum, plan on spending six months preparing your vacuum cleaner sales and service business for the marketplace. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a vacuum cleaner sales and service business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your vacuum cleaner sales and service business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. It's likely that non-serious buyers will want to know everything about your vacuum cleaner sales and service business during their initial inquires. Avoid releasing details about your vacuum cleaner sales and service business until you have established that they have the financial capacity to make a legitimate offer.
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