Niche Exit Planning Tactics
Selling a Waterbeds Service and Repair Business
The sale of a waterbeds service and repair business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Despite your best intentions, great business sales don't happen overnight.
If your exit strategy involves selling a waterbeds service and repair business now, you need to apply the right combination of preparation, strategy and common sense.
Family Issues
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a waterbeds service and repair business often begins with a family conversation and a mutual decision to move on the next stage of life.
Valuation Methods
Professional appraisers can use three methods to determine the value ofa waterbeds service and repair business: The income method, the asset method and the market method. Appraisals based on the asset method gauge value as a factor of the company's real property and non-tangible assets; appraisals based on the income method consider the business's anticipated revenue. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a waterbeds service and repair business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your waterbeds service and repair business, you can avoid painful tax and legal complications both before and after closing.
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