Niche Market Exit Planning Tips
Selling a Bereavement Services Business
Market perceptions play a role in your ability to sell a bereavement services business. Yet great values are always received well in the business-for-sale marketplace. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
Dire economic forecasts have forced many bereavement services business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
For sellers who are willing to perform adequate sale preparation, the numbers make bereavement services businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Signs You're in Over Your Head
It's not uncommon for the owners of small bereavement services businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their bereavement services businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Advertising Your Sale
Profitable bereavement services business sales begin with a carefully planned advertising and promotional strategies. But confidentiality issues are a hurdle you'll need to address before you put your bereavement services business on the market. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing bereavement services business sales while maintaining the confidentiality that is critical to your business.
Negotiating Your Sale
It's critical to negotiate from a position of strength. More often than not, the person with the most knowledge will come out on top in a bereavement services business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
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