How Do I Sell My Services Business?
If you want to sell your service business, you may be wondering how to choose the right business broker with experience selling service-based businesses. You may also be concerned about protecting your confidentiality and getting the most you can for your business.
Synergy Business Brokers has been selling service businesses confidentially for over 16 years. We specialize in selling service businesses with annual revenues between $700,000 to $70Million. We have sold a wide variety of services businesses, including companies that provide:
- Environmental services
- Advertising Agencies
- IT Services
- Mortgage Brokers
- Land Surveying
- Educational Services
- Home Maintenance
- Managed Services
- Residential & Building Svcs
- Digital Marketing
- Repair & Maintenance
- Property Management
- Arts & Recreation
- and much more.
Step One – Get the Proper Valuation
Getting the right asking price for your business is essential in the sales process. When selling a service-based company, your assets and liabilities do not tell the main story. There's your cash flow, the number of employees, how skilled they are, how much work they bring in, the types of clients you have, and more.
Many factors go into pricing a professional services business for sale. We will find out more about your business and review your financial information to provide you with a recommended price. There is no fee until your company is sold. Without an experienced Business Broker who can fully assess the worth of your business and give you a reliable estimate, you may be leaving money on the negotiating table when it comes time to price your business. You can read more about the factors that go into valuing a business.
You can get great value from selling a Service business, and you don't want to make a mistake by selling your company's value short. Here are some ways to avoid the pitfalls and get great value for your Service business.
Step Two – Hire the right Business Broker
You want someone that has experience selling Professional Services businesses and has a pool of Potential Buyers to draw from for a wide variety of service businesses. Unlike most business brokers, we don't sell retail companies, so our main focus is on selling service companies in a timely fashion for the best possible price. Our experience in selling B2B and B2C service businesses provides us with the right background to effectively position your company for sale and make sure it attracts the right buyers. Also, our experience allows us to speak the language of niche service industries. To read more, you can view our article on choosing the right business broker to sell your service business.
In addition, you want a company that has good reviews. See our ranking as the #1 Business Broker.
Step Three – Working with your Business Broker
As service business owners ourselves, we understand that selling a service business is different than selling a product business. We will work with you to develop a marketing plan that will attract potential buyers without giving away the identity of your business until a prospective buyer has signed a confidentiality agreement and provided information on their qualifications to buy your business. Then we will guide you through the process as we introduce potential buyers, negotiate offers, and close the deal. Our comprehensive marketing services use social media, digital marketing, our network of contacts, and more to maximize your sale price.
Contact us to Sell your Services Business
If you're ready to sell your company and need a business broker with experience in your area, Synergy Business Brokers can help. For over 16 years, we have been helping businesses throughout the Northeast, the South, Midwest, and beyond. If you'd like to find out more, you can email Synergy Business Brokers at [email protected]; call us at 888-750-5950 or fill out our contact form right now, and we'll be in touch ASAP to set up your private brokerage consultation. We have many years of experience in handling mergers & acquisitions for Service companies.