Putting your cleaning business up for sale?
Putting your cleaning business up for sale? Some tips to get the best deal
Selling a business, whether it is cleaning or something else, is a complex venture. You have invested your time, hard work, and emotions in building it, but now you feel it is time to let it go.
You may consider selling your cleaning business for a variety of reasons, including a change in personal condition, the need for funds to invest elsewhere, taking time off to travel, wanting to start a new business, or discovering a truly exciting, once-in-a-lifetime opportunity.
Whatever the reason for putting your cleaning business up for sale, there are a few things you should think about before proceeding. Continue reading to find out the best ways to maximize your business’s value.
Before listing your business for sale, it is critical to determine its value. If you don't already have it, consider the following points to help you value it.
· Take note of your accounting ledgers, employee records, and overhead costs.
· Gather information about active or pending contracts, including service history and/or contract longevity.
· Examine the office supplies, cleaning supplies, and vehicles.
· Make a list of the different types of contracts you work with (small and large).
· Examine employee records and overhead costs.
There are no shortcuts to determining the precise cost of your cleaning business. On paper, you can quote any price, but to maximize your profit, you must quote a reasonable price that the buyer is willing to pay.
Make some calculations to determine the value of your cleaning business. In addition, we recommend that you contact our qualified business brokers at Absolute Business Brokers, to assist you in determining the appropriate multipliers to use for your valuation.
It is critical to understand your best exit strategy. However, before you embark on an exit strategy for selling your business, you must first determine the following: how much money you will receive from the sale; how you will receive your money; and is liquidation right for you?
If you own a small cleaning business, you may be able to close the shop and stop everything. However, if you have a big business, liquidation would not be the best option.
If you did, you would lose all of the contacts and relationships that you had developed over the years. As a result, it is recommended that you sell your contacts, assets, and customer goodwill to someone who is ready to jump in and do the work.
Locate a buyer
Finally, you must find a buyer! Again, going through a licensed business broker or listing your cleaning business for sale is the best way to achieve this. However, if you're selling your cleaning business on your own, make sure you list it in the right places.
Simply follow the steps outlined above, and you'll feel good about selling your cleaning business. If you are finding any difficulty, you can even get in touch with our expert brokers at Absolute Business Brokers to help you with the evaluation and other complex details and get the best price for your business.