Tips to Improve Exit Planning
Selling a Jukebox Service
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet jukebox services continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Most jukebox services are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a jukebox service negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Promoting a jukebox service Sale
Successful jukebox service sales incorporate comprehensive advertising plans. But confidentiality issues are a hurdle you'll need to address before you put your jukebox service on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing jukebox service sales while maintaining the confidentiality that is critical to your business.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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