Exit Planning Advice By Market
Selling an Air Conditioning Contractor Business
When it's time to sell your air conditioning contractor business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
You need to get a good price for your air conditioning contractor business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Too often air conditioning contractor business owners fail to receive fair market value for their businesses. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
Average Timeframes
Hoping for a quick air conditioning contractor business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your air conditioning contractor business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Leveraging Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and an air conditioning contractor business that languishes on the market for months or even years. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
The Best Person to Sell Your Air Conditioning Contractor Business
As the owner, you are both the best and worst person to sell your air conditioning contractor business. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful air conditioning contractor business sale.
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