Niche Exit Planning Tactics
Selling a Washing Machine and Dryer Rental and Leasing Business
It's a misconception that no one is buying washing machine and dryer rental and leasing businesses these days. Savvy entrepreneurs see washing machine and dryer rental and leasing business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
In a down economy, many washing machine and dryer rental and leasing 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 washing machine and dryer rental and leasing businesses that are actually for sale.
Many business owners don't know that washing machine and dryer rental and leasing businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
After the Sale
Due diligence has ended and you're ready to close on the sale of your washing machine and dryer rental and leasing business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. 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.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your washing machine and dryer rental and leasing business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your washing machine and dryer rental and leasing business.
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