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Selling a College Financial Planning Services Business
There is a lot of confusion about the best way to sell a college financial planning services business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Cutting corners never pays off, especially in the sale of a college financial planning services business.
You'll always have an excuse for not putting your business on the market. Selling a college financial planning services business isn't easy, but we believe sellers can achieve their goals in any economic environment.
What About Market Conditions?
Today's college financial planning services business sellers face an intimidating economic landscape. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. Like it or not, the time to sell your college financial planning services business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Closing Strategies
Today's college financial planning services business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young college financial planning services business owner, they can be critical launching points for their ownership journey.
Signs You're in Over Your Head
It's not uncommon for the owners of small college financial planning services businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their college financial planning services businesses unassisted. 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. The remedy is professional brokerage or a consultation with more experienced sellers.
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