I want to list my facility with you, is it guaranteed that you will list it?
As much as we'd like to accept every facility that is presented to us, we focus on the ones that we are confident we can successfully secure a buyer for, obtain financing and close the transaction successfully. The main reasons for declining listings are:
- Business does not generate enough cash flow to support seller’s asking price
- Business is very owner dependent and lacks staffing; ie. the owner IS the business
- Business is not in compliance with zoning or licensing
- Property has a lot of deferred maintenance
- Low revenues, small facility, low occupancy potential
- Seller has unrealistic expectations of the value of the business and/or real estate
What is your success rate?
We take pride in our exceptional success rate of 90% of selling our listings. As a reference point, the sales rate of businesses on the market is a meager 10.5% (Source: International Business Broker's Association). We contribute our noteworthy success rate to the fact that we are experts in the pet care industry, know how to position a listing properly, our proprietary, proven strategy in the sales process and to our relationships with both corporate and private buyers of pet care facilities.
What states are you licensed in?
Click here for a list of states in which we can accept a listing in.
You're located in Colorado, how can you sell my pet care facility from a different state?
Most dog boarding kennels, pet resorts or dog daycares are NOT sold to a buyer in your immediate area or even the state. Our record shows that most pet care facilities are sold to an out of state buyer. This is especially true for listings that have real estate (and a residence) included in the sale. A pet care facility will not sell by simply listing it on the regional MLS. Due to our specialty and expertise, serious buyers seeks us out for quality opportunities. Selling a pet care facility is very different than selling a residence, where a local agent is the most appropriate professional.
I've heard that it's very hard to secure financing - Is this true?
Unfortunately, the buyer’s inability to secure financing is one of the top reasons a pet care facility NOT represented by an experienced business broker, doesn't sell. It is imperative the Seller understands how these 'special use' properties are financed and that the business is positioned accordingly on the market. During the valuation process, we analyze the transaction from all angles to determine how a sale can be financed and educate the Seller of their choices. Marriage between a solid business and a solid buyer will secure financing. We have strong relationships with SBA lenders and excel in obtaining financing; as a matter of fact, about 90% of our listings are financed with a bank loan allowing our Sellers to get cash at closing. Please visit our Financing page for more information.
How can I sell my facility without anybody knowing?
Confidentiality is of utmost importance to us. We believe that it's in the seller's best interest to keep a pending sale confidential until closing; this prevents staff from leaving and clients from getting concerned. Through blind advertising, buyer pre-screening and requiring every prospect to sign a Non-Disclosure Agreement, we are able to sell your business while maintaining complete confidentiality.
How long does it take to sell my business?
A realistic timeframe for selling a boarding kennel, pet resort or dog daycare from date of listing to closing is about 6-12 months. Some kennels sell faster, some take the whole year. Boarding kennels with defendable pricing structure and financing in place will sell swiftly in any economic environment. Businesses without real estate sell considerably faster than the timeframe indicated.
You're a specialist, do you charge higher commission fees?
Nope! We charge the same fees as other business and commercial real estate brokers and you receive superior service, knowledge and expertise of the industry.
Should I use a broker, or sell the business myself?
Few sellers understand the process of, nor have the expertise, to successfully sell a boarding kennel or dog daycare. A seller might know their business well, but they do not how to sell one. Due to the complexity of the process, it takes specialized training and knowledge in a multitude of areas: business appraising, marketing, advertising, real estate, negotiations, drafting Purchase & Sale Agreements, Due Diligence, dealing with CPAs and attorneys and not to mention facilitating the emotional rollercoaster experienced by Sellers and Buyers. Most FSBO kennels never sell. This sale might be one of the most important financial decisions you'll ever make, a specialty broker is the best professional to ensure that the facility sells at its highest value in a timely manner.