Business Exit Planning
Selling a Magazine and Journal Publishers Business
A lot can go wrong during the sale of a magazine and journal publishers business these days. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
An assortment of hurdles and obstacles stand between you and the successful sale of your magazine and journal publishers business.
Despite the conventional wisdom, we believe current economic conditions are right for selling a magazine and journal publishers business. We'll tell you what you need to know to achieve a successful sale outcome
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a magazine and journal publishers business. Many sellers find that hiring a business broker makes the demands of a sale much more tolerable. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their magazine and journal publishers businesses.
Negotiation 101
There's no room for error when you negotiate the sale ofa magazine and journal publishers business. Information is the key to a great magazine and journal publishers business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your magazine and journal publishers business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Family Issues
Many sellers embarked on their magazine and journal publishers business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the magazine and journal publishers business. The sale of the business will likely result in new family dynamics. Subsequently, selling a magazine and journal publishers business often begins with a family conversation and a mutual decision to move on the next stage of life.
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