Niche Exit Planning Strategies
Selling a Document Preparation Services Business
You've learned a lot during your tenure as a document preparation services business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a document preparation services business.
But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your document preparation services business.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the document preparation services business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling document preparation services businesses.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Timing the Market
Now may be the best time to sell a document preparation services business. With interest rates at all-time lows, it's easy to see why document preparation services businesses are an appealing investment opportunity for savvy investors. When the economy recovers there will be more document preparation services 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.
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