You certainly don’t want a buyer whose finances will cause the deal to fall through. You need a buyer who can handle the costs, from buying the business to operating it. The most important trait of the right buyer is financial solvency. Get the word out as broad as possible, then narrow down candidates. So, don’t customize your marketing and advertising to one specific niche. Begin by keeping an open mind – the person you think is best suited for the role may not be in reality. The goal is to have a broad overview of your business so an interested party quickly knows if the company is right for them.Īs you continue working closely with potential buyers, have as much in writing as possible.įinally, you’ll want to begin talking to prospective buyers. Here, you’ll compile all those documents you gathered earlier, including any elements of your coin laundry that could be attractive to buyers. The first step now is to create a summary of your business, or an “advertisement” of sorts. “Make sure your laundromat is appealing to buyers.” With these foundational elements in place, you will be ready to interact with potential buyers. Bringing in a broker will help you focus on your own business while someone else handles the details. Time – Selling a business is time-consuming.Success rate – Brokers aren’t sure bets, so make sure you choose one who has a history of closing deals.Cost – Brokers come with fees, so only use a broker if you are comfortable with the price. ![]() This decision comes down to several factors: The third important consideration is whether or not you need a broker to help sell your coin laundry. Not only will this increase the sales price, but it will be more attractive to potential buyers and help you sell quicker. Also on the table is the general condition of your laundromat, from the walls to the floor and ceiling.Īll in all, clean up your business before selling. You’ll want to make sure everything is in good working order, and you’ll also want to factor in overall quality when deciding on an asking price. ![]() With that in mind, your next step should be an assessment of your actual operations. The quality and condition of your coin laundry will also come into play before selling. Your financial documents play a big role in a sale.
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