Episode 58: Are You Preparing Your Cleaning Business For A Very Important Customer?

There is a very important customer out there that most cleaning business owners never give a second thought to until they're ready to get out of the cleaning business altogether. And that customer is the person that's going to buy your business one day.

This video shares 5 things you should be doing RIGHT NOW to prepare your business for sale; regardless of when you think you'll actually be ready to sell.

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Episode #58 - Video Transcription

There is a very important customer out there that most cleaning business owners never give a second thought to until they're ready to get out of the cleaning business altogether. And that customer is the person that's going to buy your business one day. As a cleaning business owner, you have a great opportunity for large financial gain when you ultimately sell your business. But if you want to actually REALIZE that financial gain, there are several things you should be doing RIGHT NOW to increase the value of your business in the eyes of potential buyers.

Here is a short-list of things you should be doing right now to prepare your business for sale; regardless of when you think you'll actually be ready to sell.

• Number one. Keep good accounting records and prepare accurate financial statements so any propective buyer can see a proven track record of successful business management.
• Number two. Make your cleaning business "systems-dependent", and not "YOU-dependent". If your business falls apart every time you take a vacation or go to a business seminar, then your company is dependent on YOU being present to keep things running smoothly. No prospective buyer will want to take on a company that can't function without its current owner. So one of the most important things you can do is make your company "systems-dependent" by creating operating systems in all areas of your business. 
• Number three. Develop great supervisors and managers so you can manage the managers and your managers can manage the front line employees and run your business. You simply cannot grow your business if you have to manage every employee in your company yourself. So take the time to groom your best employees for the next step in THEIR career development into supervisory and management positions. 
• Number four. Build a solid customer base of long-term clients. Prospective buyers want to know that you can hang onto clients long-term in order to ensure profitability. If they discover high-turnover in your client base, they won't have confidence that they can maintain sales when they buy your company. 
• Number five. Make sure all your client locations are well-maintained, and make sure your own office and storage areas are not looking tired or run down. Prospective buyers want to see that a cleaning company walks the talk when it comes to well-maintained facilities.

Ok, so all five of the points I just mentioned are very important when it comes to finding a serious buyer for your business one day. But even if you have no immediate plans to sell your business, these are all very important things to focus on right now -- because when you do all five, your life will become much easier, and you'll ALSO become more profitable and successful in the SHORT term as well.