Exit Planning Strategies
Selling a Vending Machine Dealership
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
With planning and patience, most vending machine businesses can be sold for a fair price in the current business-for-sale marketplace.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to vending machine businesses that exhibit strong financials and potential for future growth.
Average Preparation Time
There are no effective shortcuts for selling a vending machine dealership. 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. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a vending machine dealership can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
After the Sale
As your vending machine dealershipsale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based vending machine dealership sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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