Niche Exit Planning Tactics
Selling a Washing Machine and Dryer Repair Business
It's a misconception that no one is buying washing machine and dryer repair businesses these days. Savvy entrepreneurs see washing machine and dryer repair 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.
The buzz in the marketplace is that now isn't the right time to sell a washing machine and dryer repair business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Too often washing machine and dryer repair business owners cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
The Best Person to Sell Your Washing Machine & Dryer Repair Business
An unassisted business sale is a double-edged sword. Few people know your business as well as you do. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the washing machine and dryer repair business to gain an objective sense of fair market value.
Sale Preparation Timeframes
There are no effective shortcuts for selling a washing machine and dryer repair business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. 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 washing machine and dryer repair business 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.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your washing machine and dryer repair business during their initial inquires. Avoid releasing details about your washing machine and dryer repair business until you have established that they have the financial capacity to make a legitimate offer.
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