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Selling a Cable TV Company
It's a misconception that no one is buying cable TV companies these days. Savvy entrepreneurs see cable TV company opportunities as a path to short-term profits and long-term growth. Here's what you need to know to get a fair price for your company.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Does that mean selling your cable TV company will be a piece of cake? No -- but you might be surprised to learn that the cable TV companies that are selling these days are finding success though simple, common sense selling strategies.
Timing the Market
Now may be the best time to sell a cable TV company. Although the economy is generally struggling, low interest rates make cable TV companies more attractive to entrepreneurs who want to get in the game. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful cable TV company sale. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the cable TV company on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. During the selection process, look for brokers with a proven track record of successful cable TV company sales. Take our word for it -- cable TV companies are unique businesses and you need a broker who understands how to properly market your cable TV company to prospective buyers. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
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