Business Exits By Industry
Selling a Concierge Services Business
The sale of a concierge services business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
When the economy recovers, we expect to see a sudden influx of concierge services businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
If you're ready to move on, now is the right time to sell your concierge services business.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the concierge services business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your concierge services business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized concierge services business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your concierge services business, expect to be asked to finance a substantial part of the sale price.
Preparing for What's Next
The decision to sell your concierge services business can't be made without adequate consideration of what will happen after the sale. 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 concierge services business attractive to buyers.
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