Selling your alarm business or alarm business accounts can be a somewhat daunting task. Whether you’ve just started an alarm company or you’re getting ready to exit the alarm security industry, contemplating how to ultimately sell your alarm company or accounts can seem overwhelming.
What many alarm business owners don’t realize is that the process for selling an alarm company isn’t actually as complicated as it may initially seem. By doing the work to position your business for a successful sale and enlisting the help of an alarm company broker, selling your security alarm company may turn out to be easier – and more profitable – than you expected.
Here, we’ll share five key steps for how to sell security alarm businesses and accounts successfully.
5 Steps To A Successful Security Alarm Business Sale
1. Implement A Succession Plan
When it comes to selling your alarm business or accounts, having a plan in place for succession is half the battle. Planning your growth and exit strategy ahead of time will help you visualize the future of your company and give you a plan for how to get there. Long before you envision yourself putting your company on the market, establish goals for your organization and a general plan for what will happen with your alarm business when you decide to exit the industry. Having your end-game plan in mind from the start will help to make things easier when you ultimately decide to sell your alarm business.
2. Continue Growing Your Business
As the time to sell your alarm company gets closer, don’t shy away from new opportunities to grow and expand your business. Maintain current contracts, pursue new customers and adopt new technologies and services whenever possible. You want to keep your alarm company healthy and competitive. Doing so will help to continue your legacy of success and ultimately make your company more appealing to well-qualified buyers.
3. Hire a Broker
When you’re ready to sell your alarm company or accounts, working with an alarm company broker is in your best interest. From helping you understand what your alarm business is worth and ensuring that it is properly valued to helping you to maximize the profits from the sale of your company by negotiating favorable terms, a broker is a valuable resource. Alarm brokers also have access to numerous qualified buyers and can help to sell your business quickly and confidentially.
4. Maintain Your Business
Even when your business is on the market, it’s important to maintain business as usual. Keep things up to date and continue to provide your customers with the same level of service and attention they are used to. Don’t be tempted to check out and let things slide in anticipation of a sale. Keeping up with good business practices will keep your customers and clients happy, establish you as a responsible seller and make your alarm business even more valuable in the eyes of potential buyers.
5. Make The Sale
Once you find a buyer who is willing to buy your alarm company for the right price at the right time, it’s time to move forward with the sale. Your broker will help to negotiate favorable terms and help to facilitate the sale process. As the sale is underway, take some time to celebrate all you’ve accomplished, plan your next business venture or decide how you will spend your time once you are no longer responsible for running an alarm company.
While there may be some ups and downs along the way, these five key steps will guide you to the ultimate sale of your alarm business or accounts.
Ready to Sell Your Alarm Business?
If you are hoping for a successful alarm business sale and you’re looking for a reliable, experienced and trustworthy broker to work with, contact Rory Russell at Acquisition & Funding Services. With decades of experience negotiating transactions in the security alarm industry, Rory is a valuable resource for alarm companies looking to sell.
Interested in getting Rory’s insight about how to sell your alarm business for the right price at the right time? Download his free, informational eBook: To Sell or Not to Sell.
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Think AFS might be the right broker for your alarm business? Contact Rory today at 800-354-3863 or complete this easy online contact form to get in touch with Rory directly.