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Selling a Credit Restoration Business
It's a misconception that no one is buying credit restoration businesses these days. Savvy entrepreneurs see credit restoration business opportunities as a path to short-term profits and long-term growth. Here's what you need to know to get a fair price for your company.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
But at Gaebler, we see credit restoration businesses still selling at a brisk pace. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Negotiating Your Sale
There's no room for error when you negotiate the sale ofa credit restoration business. More often than not, the person with the most knowledge will come out on top in a credit restoration business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Should I Hire a Business Broker?
The decision of whether or not to hire a business broker should never be taken lightly. 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 credit restoration business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your credit restoration business. Many sellers experience discouragement during a long sale process. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your credit restoration business on the market.
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