Monitoring stations are key components of security companies, fire companies, and integration companies. As such, they are also components that need to be sold when alarm businesses are changing hands.
So how do you go about finding a buyer for your monitoring station? Where do you turn when it’s time to pursue a new opportunity or exit the industry and you’re ready to hand over the reins?
Here, we review a few methods for connecting with qualified monitoring station buyers when you’re ready to sell.
Selling a Monitoring Station: Connecting with Buyers
There are a few ways to go about finding a buyer for your monitoring center.
Work With a Broker
We mention this option first as it’s the option we most highly recommend. Working with a broker can put you in touch with well qualified buyers who are already vetted and willing to pay top dollar for your monitoring station.
Having a broker on your side as you put your monitoring station on the market can also ensure that the transaction goes smoothly – and profitably – once you’ve found a buyer and struck a deal.
In general, working with a broker makes the entire process of selling a monitoring station much smoother. You’ll have a guide to help you connect with buyers who are qualified to take over your center and who understand what your monitoring station is truly worth, and an ally to help you navigate the sale process from start to finish.
Find a Buyer Yourself
If you don’t want to work with a broker, the main option you have for selling your monitoring station is to find a buyer yourself. This can be challenging for a number of reasons – though not impossible.
Firstly, you’ll need to determine who the ideal buyer is. You’ll also need to determine what price you’d like to sell for.
You’ll need to put feelers out in the industry, which can make it challenging to keep your plans for your business confidential. You’ll have to actively market that your organization is for sale, all while still at the helm, keeping day to day operations moving forward.
You can also consider passing your monitoring center to a trusted employee or one of your family members if you’re hoping to keep the business in the family.
Once you’ve found an interested party, you’ll need to fully vet them in order to determine whether or not the sale is truly feasible, and to ensure that they’re truly the right person to take over and continue your organization’s legacy.
While this is all doable, many company owners who start down this path themselves ultimately find that they’re better off having a broker on their side. (You can learn more about the benefits of working with an alarm company broker here.)
Connect with Other Central Stations
While central stations are not the best partners when it comes to alarm business sales, they are a solid potential option to consider when it comes to selling a monitoring center.
Other monitoring stations likely have the technology and capabilities necessary to take over your clients smoothly. If you can find one that has overlap in your geographic area, that can be an advantage as well. Central station owners are already well versed in the industry, which can be beneficial as they will likely understand the true value of what your station has to offer and can see the advantage they stand to gain by merging with your organization.
If you are in the industry, you likely know of other central monitoring stations and may have a sense of who you’d like to approach when it comes to selling yours. However, it’s worth noting that working with a broker can be hugely beneficial in this scenario as well.
Sell Your Monitoring Station Successfully
If you’re ready to start the search for a qualified monitoring station buyer, it’s in your best interest to reach out to a trusted alarm business broker.
Rory Russell of AFS has been in the industry for decades and knows what it takes to find buyers willing to pay top dollar for monitoring stations. He can help you understand the true value of your organization, connect you with interested, well-qualified buyers, and help you navigate the sale process every step of the way.
Interested in mitigating the risks that come with selling your monitoring station? Be sure to check out our post about avoiding hazards and risks when selling your alarm business or monitoring station.