Business Exits By Industry
Selling a Career and Vocational Counseling Business
Many business leaders say that now isn't the time to try to sell a career and vocational counseling business. But in reality, now may be the perfect time to sell a career and vocational counseling business.
In any economy, there is a right way and a wrong way to sell a business.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a career and vocational counseling business.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. It's completely normal for career and vocational counseling business sellers to be asked pointed questions during due diligence. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Advertising Your Sale
Successful career and vocational counseling business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing career and vocational counseling business sales while maintaining the confidentiality that is critical to your business.
Post-Sale Details
As your career and vocational counseling businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
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