Exit Planning Advice By Market
Selling an Audio Video Equipment Service and Repair Business
The sale of your audio video equipment service and repair business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
If you plan on selling your audio video equipment service and repair business quickly, prepare to be disappointed.
There is no simple way to sell a business. But the most prepared audio video equipment service and repair business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Business Valuation
Multiple valuation methods exist for an audio video equipment service and repair business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Setting the Stage
A successful audio video equipment service and repair business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. 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 audio video equipment service and repair business on the market.
Signs You're in Over Your Head
Many audio video equipment service and repair business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Share this article
Additional Resources for Entrepreneurs