Smart Exit Planning Strategies for Niche Markets
Selling a Gay and Lesbian Organization
Many business leaders say that now isn't the time to try to sell a gay and lesbian organization. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your gay and lesbian organization on the market.
With planning and patience, most gay and lesbian organizations can be sold for a fair price in the current business-for-sale marketplace.
Despite the conventional wisdom, we believe current economic conditions are right for selling a gay and lesbian organization. Here's how to do it . . .
Advertising Your Sale
Successful gay and lesbian organization sales listings are intentionally promoted to the right prospects. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing gay and lesbian organization sales while maintaining the confidentiality that is critical to your business.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your gay and lesbian organization. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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