For many alarm security business owners, it’s hard to know when it’s the right time to sell. Whether you are planning to exit the industry completely, hoping to take on a new challenge, or planning to shift your focus, knowing the right time to make a change can be tough.
There is no surefire sign or key indicator that can guarantee the moment is right to sell your alarm company. And no one can truly make the decision to sell but you.
So how can you know when it’s the right time to sell your alarm company? Here are a few factors to look for that might indicate now is a good time to sell.
6 Factors That Typically Indicate It’s a Good Time To Sell Your Alarm Company
1. You Can’t Keep Up With The Internet Of Things
Things are changing fast in all industries because of the Internet, but they are changing especially fast in the alarm security industry. Consumers are looking for services and products that make securing their homes easy and convenient. Many of these offerings are related to the Internet of Things. If your company can’t keep up with you at the helm, it may be time to hand the reins over to someone who is up for the challenge of adapting to the new internet-based way of doing things.
Learn more about the Internet of Things and how it is impacting the alarm industry.
2. You Are Not Willing To Invest in New Technologies
Home automation and smart technologies are becoming commonplace in the alarm industry. Some alarm company owners are excited to invest in new technologies and provide new offerings to their customers, even though these new offerings may be costly to implement. If you’re not willing to invest in the new technologies and offerings your clients are looking for, now may be a good time to sell your alarm company.
Read more about why your alarm company is becoming obsolete and what you should do about it.
3. You Have a Succession Plan In Place
Our number one tip for planning for your alarm company’s future is having a succession plan in place. If you want to ensure that the company you’ve worked hard for years to build is still positioned for success even after you’ve handed over the reins, putting together a strategic plan is key. If you already have a succession plan in place, you are significantly better prepared to sell your alarm business.
Learn more about succession planning in preparation for selling your alarm company.
4. It’s a Seller’s Market
If you’re on the fence about selling your alarm business, take a look at what’s going on in the industry and weigh your options. If your business is in good condition to sell and it’s a seller’s market, that might indicate that now would be a good time to move forward with a sale. If it’s a buyer’s market, you may be better off waiting.
Find out what other factors make now a good time to sell your alarm business.
5. You Feel Ready to Completely Hand Over The Reins
Selling your alarm company out-right means that you will no longer be at the helm. If you’re ready to be free from the responsibility of running a company and you’re prepared to hand the command over to someone else, that is usually a pretty strong sign that selling your business is the right choice.
Still pondering the “to sell or not to sell” question? Download our free eBook to help you decide if now is the right time.
6. You Are Comfortable No Longer Having a Stake in Your Organization
Surrendering your authority and influence on your company can be the biggest and most challenging aspect of selling your alarm business. If you feel ready to take that step and you are confident that your business is in good shape to sell, it’s usually a pretty good indication that you’re ready to take that next step.
Not sure you’re ready to totally step away from your alarm business? Find out why selling some of your alarm accounts may be the better option for you.
Need Help Choosing The Right Time To Sell Your Alarm Company? We Can Help.
At AFS, we know the alarm security industry inside and out. We understand the challenges that come along with selling your alarm business and the difficulties business owners sometimes face as they decide whether or not selling is the right thing to do.
If you’re considering the option of selling your alarm company and want some expert advice as to the right time to sell, please don’t hesitate to give Rory Russell of AFS a call.
Call Rory anytime on his personal cell at (800) 354-3863 or contact him online here.
From providing a free business valuation so you truly understand the value of your business to advising you as you assemble a succession plan, we’re an ally you can trust.
Interested in learning more about what AFS has to offer? Please check out the following resources for additional information:
About Rory Russell and AFS – Learn about Rory’s extensive experience in the security alarm industry and find out how AFS has been helping business owners like you sell alarm businesses for top dollar for years.
5 Reasons to Sell Your Alarm Company with AFS – Get the details on what makes Acquisition & Funding Services a helpful and insightful ally when it comes to putting your alarm company on the market and finding a well-qualified buyer willing to pay top dollar!
Still on the fence about whether or not you’re ready to sell your security business? We’ve put together a list of 8 key questions to answer before putting your business on the market. Check out the list to help you determine if you’re ready to move forward with a sale.