Business Exits By Industry
Selling a Consulting Business
Selling a consulting business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a consulting business, capital restrictions are holding them back.
The business-for-sale market is extremely dynamic. That's why we think it's important for consulting business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your consulting business to today's buyers.
Should I Hire a Business Broker?
When selling a consulting business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your consulting business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered consulting business sale.
Promoting a consulting business Sale
The best consulting business sales begin with a carefully planned advertising and promotional strategies. 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 consulting business sales while maintaining the confidentiality that is critical to your business.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your consulting business during their initial inquires. Avoid releasing details about your consulting business until you have established that they have the financial capacity to make a legitimate offer.
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