Niche Exit Planning Strategies
Selling a Digital Phones Business
For the right sellers, the business-for-sale marketplace is a friendly environment for digital phones business opportunities. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Personal and professional concerns surround the sale of a digital phones business. In our experience, a common owner concern is how the sale will affect customers and employees.
To sell a digital phones business now, you need to apply the right combination of preparation, strategy and common sense.
Handling Unexpected Outcomes
When you made the decision to sell your digital phones business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your digital phones business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Closing Strategies
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young digital phones business owner, they can be critical launching points for their ownership journey.
Timing the Market
Now may be the best time to sell a digital phones business. Although the economy is generally struggling, low interest rates make digital phones businesses more attractive to entrepreneurs who want to get in the game. When the economy recovers there will be more digital phones business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Share this article
Additional Resources for Entrepreneurs