Business Exits By Industry
Selling a Computer Training Business
No one said selling your business in a depressed economy would be easy. Fortunately, a computer training business sale isn't as scary as it seems.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
If your exit strategy involves selling a computer training business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Buyer Identification
It's difficult to predict where the buyer of your computer training business will come from. To cover all your bases, you'll need to conduct a broad buyer search process. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Preparing for What's Next
So you've decided to sell your computer training business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your computer training business attractive to buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Most computer training business have significant tax consequences requiring the input of a qualified accountant. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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