Nearly every financial, real estate, and business seller and acquisition expert on the planet that knows the ins and outs of selling a business will recommend that you get an honest idea of your business’s value from a qualified third party before you attempt to sell.
If you’re a pawn business owner thinking about selling your business, a true expert will tell you that are no exception. Like any business owner, you need to know what your business is really worth before you reach out to any potential buyers. Knowing what your pawn shop is worth will help you determine the value of potential buyers’ offers and give you a realistic picture of what you might be able to achieve as a pawn shop seller.
In order to gain a solid understanding of what your pawn business is worth, you need to know where you stand in the market according to your geographical location and the big-picture pawn market. You also need to have a realistic picture of your current financial situation, financial prospects as a seller, and what your life will look like after the sale of your pawn business. An objective analyst with experience in the pawn industry should be able to provide you with an accurate valuation and see you through the selling/closing process at a rate that makes good financial sense, and is contingent upon the level of success they are able to achieve on your behalf.
Your average business broker, local accountant, or hometown banker may be able to provide you with some valuable insights when you’re ready to sell, but as a pawn broker, you have special needs and requirements that must be met if you are going to sell your pawn shop the right way. Your average consultant, however savvy, is likely to have significant difficulty coming up with an accurate valuation of your pawn shop (or shops). Most consultants will have even more difficulty presenting you with an accurate depiction of what it will take to gather the right financials and other relevant information that serious pawn business buyers typically want to see before they make a purchase.
Pawn shop owners need more than exit strategy consulting services; they need pawn shop exit strategy consulting services. In order to get the most out of the sale of their businesses, they need to work with third parties that are already working within the pawn industry and have a proven track record of helping pawn shop owners/sellers achieve success. If you’re considering selling your pawn business, you need a pawn shop exit strategy consultant that can:
- convert the numbers in your books into pertinent financial information that buyers will find compelling,
- uncover your tangible assets and intangible assets, and present their findings to buyers in a way that enhances profitability scenarios,
- work with your current accountant and/or financial advisor to pinpoint any areas of concern and minimize them prior to reaching out to potential buyers,
- make the right first impression by presenting quantifiable data to potential buyers in a way that puts the ball in your court at the onset of negotiations,
- understand the legal matters involved in complex sales transactions,
- understand your reasons for selling and can help you meet your goals, whether those goals include reorganizing your capital structure, embarking upon a new business venture, or retirement,
- successfully facilitate the sale of your pawn business to the right buyer, and
- provide post-sale consulting services.
If you’re a pawn broker looking to sell your shop, obtaining a pawn business valuation is the first step towards achieving the sale price you truly deserve. To obtain a free business valuation today, contact Stallcup Group. At Stallcup Group, independent pawn brokers are our business.
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