How do I sell a phone repair shop?
To sell a phone repair shop, prepare records a buyer can check: repair tickets and turnaround, parts stock and supplier terms, technician roles, and the warranty you give on repairs. Reduce how much the shop depends on your own hands at the bench, and tell your technicians at the right time.
A buyer of a phone repair shop wants to see that the work happens without you. If every repair runs through your hands, they may see a job, not a business. Preparation is mostly about showing what the shop does, how reliably it does it, and what the buyer would take on. Start early, because good records take months to build.
Records that show how the shop runs
Keep a clear set of repair tickets showing the device type, the repair, the date and who did it. Add typical turnaround and how often repairs come back. Separate walk-in work from any business or contract work. These records let a buyer see steady activity rather than take your word for it, and they help your accountant tie sales to the statements.
Parts, suppliers and warranty promises
List the parts on hand and their age, and remove stock that will not sell. Gather supplier terms and note which accounts depend on you personally. Write down the warranty you give on repairs and how many claims came in. A buyer will ask who carries a promise made before closing, so ask your lawyer how the agreement should handle it.
Technicians and your own role
If you are the main technician, consider training someone before you list. Ask your key staff whether they would stay, and agree with your advisers when to tell them. Because customers leave devices and data with you, also ask your lawyer what you must do with that information in a sale. A buyer is more comfortable when the handover is planned in writing.
Related reading
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Buying
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat are financial statements?
- 02Business Development Bank of CanadaGovernmentWhat is inventory
- 03Office of the Privacy Commissioner of CanadaGovernmentThe Personal Information Protection and Electronic Documents Act (PIPEDA)
- 04Business Development Bank of CanadaGovernmentLetter of intent and confidentiality agreement for a business acquisition: What clauses should be included?
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