Exit Planning Advice By Market
Selling an Appliance Installation and Hook-up Business
You've invested time, effort, and creativity into building your appliance installation and hook-up business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Selling a appliance installation and hook-up business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
To sell an appliance installation and hook-up business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Maximizing Sales Price
There are no simple ways to sell an appliance installation and hook-up business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their appliance installation and hook-up businesses.
When Is the Right Time to Sell?
When is it the right time to sell your appliance installation and hook-up business? If you're asking the question, now may be the time to put your business on the market. There are a lot of naysayers out there advising appliance installation and hook-up business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the appliance installation and hook-up business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized appliance installation and hook-up business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
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