How to Sell a Niche Market Business
Selling an Eviction Services Business
A good business is about more than dollars and sense. To make your eviction services business what it is today, you've had to fully invest yourself in its success. 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.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for an eviction services business.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your eviction services business.
Sale Costs
In an eviction services business sale, pricing is based on a number of factors, including the costs incurred during the sale. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Average Timeframes
Hoping for a quick eviction services 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. To adequately prepare your business listing, plan on spending six months to a year prior to listing. In a good market, an attractive eviction services business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
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