Tips to Improve Exit Planning
Selling a Junior High or Middle School
It's a misconception that no one is buying junior high or middle schools these days. Savvy entrepreneurs see junior high or middle school opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
When the economy recovers, we expect to see a sudden influx of junior high or middle schools in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
More than a few junior high or middle school sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Leveraging Industry Connections
Today's junior high or middle school buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. Time and time again, successful junior high or middle school sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your junior high or middle school. Concessions can consist of non-cash as well as cash incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young junior high or middle school owner, they can be critical launching points for their ownership journey.
Preparing Your Junior High or Middle School for Sale
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable junior high or middle school sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your junior high or middle school, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Share this article
Additional Resources for Entrepreneurs