Exit Planning Techniques By Market
Selling a Foreign Currency Exchange and Brokers Business
When it's time to sell your foreign currency exchange and brokers business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
It's a fact: Successful business sales take time.
If you're ready to move on, now is the right time to sell your foreign currency exchange and brokers business.
Average Timeframes
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their foreign currency exchange and brokers business. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. On average, it takes a minimum of six months to prepare a foreign currency exchange and brokers business for sale and many sellers spend a year or more positioning their business to command a higher price. In a good market, an attractive foreign currency exchange and brokers business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful foreign currency exchange and brokers business sales. Take our word for it -- foreign currency exchange and brokers businesses are unique businesses and you need a broker who understands how to properly market your foreign currency exchange and brokers business to prospective buyers. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling foreign currency exchange and brokers businesses.
Selling a Foreign Currency Exchange & Brokers Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based foreign currency exchange and brokers business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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