Given the myriad of factors that affect the profitability of a vending business, it is easy to see that many businesses offered for sale in the vending industry are not seriously for sale. Owners have nothing to lose, so they “test the waters” to find out about the sale process and see what their business is worth.
Many today are unprepared
As a buyer, I’ve sat through many lunches with these “tire kickers” only to find that they have no intention of parting with their companies. Maybe if they could receive three times what the business is worth they might think about it.
As a seller, if you go through a broker, realize that you have done nothing to signal to the buyer that you are serious about finalizing a deal. In fact, using a broker signals just the opposite.
Assuming you are not a “tire kicker,” you need to do everything in your power to let potential buyers know you are serious about selling. Do your homework, and it will pay off.
Bottom line: Find out what your business is really worth and use the valuation as a tool to improve the bottom line.
Goodwill + tangible assets = Total calculated value
Goodwill is enhanced by improving value through factors such as handing management to others to reduce the owner’s personal association with the business.