To market your pawn shop to any of the major companies, you have to know what it is that they’re looking for in an acquisition. A major pawn company isn’t going to tell you all of the reasons that your independent pawn business may or may not be particularly valuable to them so as not to give away their hand. This is why you have to come up with your own accurate estimates that will prove, beyond a shadow of a doubt, what your business is worth now—and what it will be worth to the buyer once the buyer takes over. Do not allow the buyer to determine the worth of your business! With a little help and a thorough analysis of all of your pawn business’s unique characteristics, you can effectively market your business to the major pawn buyers and demand the sale price you deserve.
One thing to keep in mind as you strive to gain an understanding of the worth of your pawn business is that independent pawn shop owners, like owners of other small or mid-size organizations, tend to think their businesses are more valuable than they actually are. Even if they are able to come up with a good method for determining the worth of their business, a lack of objectivity almost always sneaks into their calculations. This results in inaccurate values, which the major pawn companies will immediately recognize and seize upon during negotiations.
For most pawn shop owners, the only way to ensure that the method they’re using to determine their pawn business’s worth is good and that their calculations, value determinations, and asking price are correct and in alignment with one another, is to work with pawn shop sell specialists that know the pawn business inside and out.
By working with exit strategy specialists who have a history of working directly for or with the major pawn companies and can pinpoint all of the things about your business that buyers are going to take into consideration—including its unique characteristics and the changes that the buyer will make that will increase its profitability in the future—you can even the playing field during negotiations, and even stack the odds in your favor.
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