If you own your own fire alarm company, there may come a time when you need to sell off some of your fire alarm accounts. Whether you need to raise capital, you’re planning to sell you fire alarm company down the road, or you just want to reward yourself for your hard work, there are a few things you should know before finding a buyer to purchase a portion of your fire accounts.
5 Tips For Selling Your Fire Alarm Accounts
Keep the following points in mind as you approach the prospect of selling your fire alarm accounts:
Get an Accurate Valuation
If you’re considering selling your fire alarm accounts, the first thing you need to know is how much your accounts are actually worth so you can make sure you get top dollar. Your equipment, recurring monthly revenue, and customer database influence the value of your alarm company and its accounts. But only a qualified alarm company broker knows how much fire alarm accounts are currently selling for on the market and what buyers are willing to pay.
Keep It Confidential
It’s easy to get caught up in the excitement of selling your business–you may be retiring or moving to a new industry and excited for the next chapter, but don’t let that excitement impede the sale of your business. News that you’re potentially selling your company can travel fast by word of mouth and trigger negative reactions from employees, customers, and competitors. When you work with a fire alarm company broker, we reach out to interested buyers on your behalf without mentioning your business’s name to prevent potential negative side effects that could temporarily lower the value of your business.
Work With a Broker
Finding a qualified buyer for your fire alarm accounts can be a tricky business if you try to do it yourself. If you don’t have a taker in mind, finding a vetted buyer to carry on your business’s legacy and maintaining customer expectations can be like trying to find a needle in a haystack. That’s why one of the easiest and efficient things you can do is contact an experienced fire alarm company broker. We’ll help guide your through the process of evaluating potential buyers and share helpful alarm industry insight to help you make an educated decision.
Keep Up Your Customer Service
Just because your accounts are on the market doesn’t mean you throw in the towel when it comes to customer service. It’s important to remember the customers you serve who made your business what it is today. Maintaining happy customers and positive customer service levels will help establish your fire alarm business as reputable and trustworthy, which is a selling point for potential buyers!
Continue Investing In Upgrades
Like customer service, investing in upgrades for your business shouldn’t stop when you’re considering selling your fire alarm accounts. You want to make your accounts as attractive as possible to potential buyers. What sounds more enticing for a buyer to you: a fire alarm company still using last year’s technology that the buyer will have to replace, or a fire alarm company who’s up to date with technology? It’s a no brainer! Investing in upgrades to your business can help make your fire alarm accounts more attractive.
Ready to Sell Your Fire Alarm Accounts?
Fire alarm accounts are more complex to sell than traditional alarm companies, and as one of the top brokers for the fire alarm industry, Rory Russell knows what it takes to value your business’s accounts and connect you with a qualified buyer to get top dollar for your fire alarm company.
Interested in getting Rory’s insight about how to sell your fire alarm business for the right price at the right time? Download his free, informational eBook: To Sell or Not to Sell.
Interested in learning more about what AFS has to offer? Check out the following articles to learn more:
Tips for Growing Fire Alarm Business Sales– Learn our four strategies for increasing your fire alarm business’s profits and so you can gear it up to sell.
The Benefits of Working with Alarm Company Broker Acquisition & Funding Services – Get to know Rory and hear him speak about what he does to help buyers and sellers in the alarm industry coordinate advantageous and profitable mergers, sales, and acquisitions.