Niche Exit Planning Tactics
Selling a Water Cooler and Fountain Repair Business
Over the past few years, the water cooler and fountain repair business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a water cooler and fountain repair business during challenging economic times.
It takes dedication to sell a water cooler and fountain repair business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Most water cooler and fountain repair businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Seller Financing
Business buyers are in a capital crunch. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy water cooler and fountain repair businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Leveraging External Resources
Rarely, if ever, do owners sell a water cooler and fountain repair business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Pre-Sale Checklist
The pre-sale checklist for a water cooler and fountain repair business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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