Business Exits By Industry
Selling a Coroner Business
The sale of a coroner business can be a difficult and trying process. 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 business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a coroner business.
Many business owners don't know that coroner businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based coroner business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a coroner business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Moving On
What will happen if your coroner business is a success? 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. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
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