Business Exits By Industry
Selling a Cremation Services Business
Is the economy still a little shaky for a business sale? Sure it is. Yet cremation services businesses haven't been deterred. In fact, we think this economy is a ripe environment for a cremation services business sale.
You won't find any magic formulas for selling a cremation services business, especially while the market is struggling to overcome the perceptions created by a down economy.
There is no simple way to sell a business. But the most prepared cremation services business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Sweetening the Deal
Today's cremation services business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. If you aren't familiar with typical cremation services business concessions, consult with a professional to learn how you can build incentives into your deal.
Current Market Conditions
No one plans to sell a cremation services business in a down economy. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. 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. Like it or not, the time to sell your cremation services business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Brokerage Benefits
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. 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.
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