Niche Market Exit Planning Tips
Selling a Business Planning Consulting Services Business
You've learned a lot during your tenure as a business planning consulting services business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
The business planning consulting services business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Although it takes hard work and dedication, if it's time to exit your business planning consulting services business there is a good chance you can sell it for a good price -- even in today's market.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for business planning consulting services businesses than other buyers.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the business planning consulting services business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your business planning consulting services business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Business Valuation
Multiple valuation methods exist for a business planning consulting services business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
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