Business Exits By Industry
Selling a Crisis Center
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet crisis centers continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Dire economic forecasts have forced many crisis center sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Undaunted by economic conditions, many crisis center sellers are achieving their sale goals through deliberate sale strategies.
Before You Sell
The upfront time you investment in the sale of your crisis center 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.
Negotiation 101
It's critical to negotiate from a position of strength. More often than not, the person with the most knowledge will come out on top in a crisis center negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
Tips for Working with A Business Broker
Business brokers are professional business sellers. It's typical for crisis center to rely on brokers to reduce market time and increase the final sales price. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your crisis center. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your crisis center on BizBuySell.com and other online business-for-sale sites.
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