How do I prepared to sell my cleaning business? Are you having such queries in your mind? Maybe you want to make a change in both your career and livelihood, or your business is incurring a loss, and you need to get out while you still can? Or, you might want to retire.
Whatever the reason is, there are some things you need to sort before moving forward. Preparing to sell your cleaning business might sound like a complicated process to you, but with the help of the following article, you can get more out of your sale than you thought.
Pre-Planning to Sell Your Cleaning Business
- You should figure out things such as accounting ledgers, employee records, and overhead costs. You also need to round up the current or pending contracts. It should include a history of service and or longevity contracts.
- You also need to figure out all assets like vehicles, cleaning equipment, supplies, office supplies, and more. Make a list of all your business contracts. You’ll need two types of contract inventories:
- small contracts
- large contracts
Usually, people investing or purchasing a cleaning business will want to see many small contracts instead of a single couple of huge ones. They may also want to see longevity with customers. That is why you should also list your salesperson or sales team, in addition. This will let them know if current employees will be staying on or not. And if so, how many?
How to Value Your Cleaning Business?
- How many staff do you have?
- Your turnover
- How many client contracts do you have?
A constructive way to prepare to sell your cleaning business is to use a valuation tool. A valuation calculator uses real industry insights and factors of recent sales to give you a real-time value of a business.
This information is beneficial in finding out how you could add further value to your cleaning business—for example, asking your happy customers for online reviews, investing in quality cleaning equipment, or even training your staff up further. All these factors can help to make your business even more attractive to potential buyers.
Getting Your Cleaning Business in Order
One of the essential stages if you’re preparing to sell your cleaning business is to make sure that everything is in order. Some potential buyers may show particular interest in Your financial records, so it’s your responsibility to ensure everything is presented accordingly.
Employee records should also be in order as some of the new buyers of your cleaning company may well keep the same staff on, so this is a great opportunity to show off your staff’s capabilities and skills. Also, consider if you have an office, and ensure that it is professional and presentable.
Do you want to find the Right Buyer for Selling Your Cleaning Business? Contact Julie Brigman
You might be ready to sell your cleaning business and move on, but you still want to make sure it goes into good hands. Finding a potential buyer for your cleaning business can seem like an overwhelming task to you. After all, most people know how to clean, but can they run a successful business?
So, hire a broker like Julie Brigman, who has over 20 years of experience as a small business owner, from exceedingly small, to over 10 million in sales. She has the expertise and training to facilitate stock sales as well as large Mergers and Acquisitions. She will help you whenever a potential buyer interacts with your business. So, contact her now!