Business Exits By Industry
Selling a Closed Captioning Services Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet closed captioning services businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The closed captioning services business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
However, serious buyers also understand the value of a good closed captioning services business. So for closed captioning services business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Preparing Your Closed Captioning Services Business for Sale
Like it or not, a good business sale takes time. Profitable closed captioning services business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your closed captioning services business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized closed captioning services business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Share this article
Additional Resources for Entrepreneurs