Exit Planning Tips
Selling a Horoscopes Business
The decision to sell your horoscopes business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You need to get a good price for your horoscopes business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
If your exit strategy involves selling a horoscopes business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Average Timeframes
Hoping for a quick horoscopes business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your horoscopes business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Valuation Methods
Professional appraisers can use three methods to determine the value ofa horoscopes business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Finally, the market method determines the worth of your horoscopes business based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. To drive up your sale price, position your horoscopes business by improving variables like assets, revenue and profitability during the years leading up to a sale.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your horoscopes business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the 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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