Niche Exit Planning Tactics
Selling a Water Cooler and Fountain Rental Business
Don't believe anyone who tells you it's easy to sell a water cooler and fountain rental business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
In a down economy, many water cooler and fountain rental 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 water cooler and fountain rental businesses that are actually for sale.
Most water cooler and fountain rental businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based water cooler and fountain rental business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Handling Unexpected Outcomes
When you made the decision to sell your water cooler and fountain rental business, you had a specific set of outcomes in mind. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your water cooler and fountain rental business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Laying the Groundwork
Effective water cooler and fountain rental business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a water cooler and fountain rental business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your water cooler and fountain rental business on the market.
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