Niche Market Exit Planning Tips
Selling a Business Answering Services Business
Economic uncertainty influences the timing of many business answering services business sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your business answering services business on the market.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a business answering services business sale works.
Too often business answering services business owners fail to receive fair market value for their businesses. That's unfortunate because all it takes to get a fair price in today's market is ample planning and an awareness of what's important to buyers.
When the Sale Goes Off-Course
Many business answering services business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. 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. Hire a broker and conduct a professional appraisal ASAP.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based business answering services business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Advertising Your Sale
Profitable business answering services business sales incorporate comprehensive advertising plans. But if you think advertising your business answering services business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. Business brokers are skilled at publicizing business answering services business sales while maintaining the confidentiality that is critical to your business.
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