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Selling a Consulting Scientists Business
Don't believe anyone who tells you it's easy to sell a consulting scientists business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
The economy isn't the only thing that is uncertain these days. So are consulting scientists business buyers, many of whom are waiting to pull the trigger on their next acquisition.
If you're ready to move on, now is the right time to sell your consulting scientists business.
Current Market Conditions
No one plans to sell a consulting scientists business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. 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. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your consulting scientists business as attractive as possible so to buyers right now.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. The questions consulting scientists business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. If due diligence drags on too long, your broker may need to intervene.
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