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Selling a Daycare or Childcare Center in Arizona
Business owners who are looking to sell their daycare or childcare center in the state of Arizona are subject to more stringent laws when it comes to seeking a buyer than retail businesses. Due to the nature of the childcare industry, it's vital that daycare or childcare center owners go through the proper channels when transferring ownership to a buyer. The buyer, in turn, is required to maintain appropriate licenses and agree to follow strict rules regarding the center's operation.
Laws and Regulations Surrounding Daycare and Childcare Center Ownership in Arizona
In Arizona, all childcare centers and daycares must adhere to strict regulations that are set forth by the Arizona Department of Health Services, Division of Public Health Licensing Service, Bureau of Child Care Licensing.
When selling a daycare or childcare center, the owner needs to ensure that all permits and licenses are in order. This includes written proof that emergency services are accessible in the location, land use permits, and appropriate inspections and licenses for operating a kitchen should the childcare center have one on-site.
Additionally, the new owner(s) must pass thorough background checks. The individual or representative who own and operate the childcare must follow all regulations.
Preparing to Sell Your Daycare or Childcare Center
Once you've made the decision to move on from childcare center ownership, it's important to ensure you follow some steps to prepare your business for sale and transfer of ownership. First and foremost, it's best to determine the value of your business and its assets. You need to decide if you'll make any repairs or improvements to increase the value of your business and then determine an asking price based on the final value.
Choosing a Buyer
Before the transfer of ownership occurs, you'll likely meet with several interested buyers. It's important to provide them with firsthand information about how your business operates and what to expect if they take over your childcare center.
Finalizing the Sale
When you're working with a broker such as LINK Business - Phoenix, much of the leg work is done on your behalf. To finalize the sale of your daycare or childcare center, you'll be required to sign off on the transfer of ownership.
If you're interested in a valuation or would like to speak with an experienced business broker about selling your childcare center in Phoenix or surrounding areas, call LINK Phoenix at (480) 686-8062.