Exit Planning Tips
Selling a House Sitting Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the house sitting business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a house sitting business whem market conditions threaten a successful business sale.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a house sitting business sale works.
The economy hasn't squashed the market for house sitting businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Broker vs. No Broker
Anyone who has ever sold a house sitting business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your house sitting business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your house sitting business on BizBuySell.com and other popular online business-for-sale listing sites.
Why Confidentiality Matters
Highly publicized house sitting business sales are risky house sitting businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your house sitting business on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Successful sales walk a fine line between total confidentiality and aggressive promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Laying the Groundwork
A successful house sitting business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a house sitting business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium house sitting business opportunity.
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