Business Exits By Industry
Selling a Credit Card Merchant Services Business
You've learned a lot during your tenure as a credit card merchant services business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
The credit card merchant services business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
If your exit strategy involves selling a credit card merchant services business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your credit card merchant services business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Pre-Sale Checklist
The upfront time you investment in the sale of your credit card merchant services business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Signs You're in Over Your Head
Many credit card merchant services business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other credit card merchant services businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
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