Niche Market Exit Planning Tips
Selling a Blood Typing and Testing Business
You've heard the naysayers - now isn't the time to sell a blood typing and testing business. But what they don't know is that many entrepreneurs see blood typing and testing businesses as a smart business investment.
It takes dedication to sell a blood typing and testing business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Despite the conventional wisdom, we believe current economic conditions are right for selling a blood typing and testing business. We'll tell you what you need to know to achieve a successful sale outcome
Buyer Concessions
Most blood typing and testing business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Brokerage Benefits
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
What to Expect in a Blood Typing & Testing Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your blood typing and testing business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a blood typing and testing business sale by setting realistic expectations before you list your business.
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