Niche Market Exit Planning Tips
Selling a Broadcasting School
There's a right way and a wrong way to sell a broadcasting school these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
We're seeing a high volume of shadow inventory in the business-for-sale market.
To sell a broadcasting school now, you need to apply the right combination of preparation, strategy and common sense.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a broadcasting school has to include ample communication and shared decision-making.
Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a broadcasting school that languishes on the market for months or even years. The most common seller concession is seller financing. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Signs You're in Over Your Head
Many broadcasting school are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other broadcasting schools sell below market value or languish on the market for years without attracting the interest of qualified buyers. 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.
Share this article
Additional Resources for Entrepreneurs