Business Exits By Industry
Selling a CPR Instruction School
The sale of your CPR instruction business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
You need to get a good price for your CPR instruction business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
In order to market a CPR instruction business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your CPR instruction business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your CPR instruction business on the market.
Selling a CPR Instruction School to an Employee
Although it may seem easier to sell your CPR instruction business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
When the Sale Goes Off-Course
Many CPR instruction business are tempted to save brokerage fees by selling their businesses on their own. 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. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. If that occurs, it's time to bring in the professionals to get your sale back on track.
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