Business Exit Planning
Selling a Maids and Butlers Business
Your maids and butlers business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
You won't find any magic formulas for selling a maids and butlers business, especially while the market is struggling to overcome the perceptions created by a down economy.
Most maids and butlers businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Advertising Your Sale
Profitable maids and butlers business sales incorporate comprehensive advertising plans. But if you think advertising your maids and butlers business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is 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. The best way to advertise a maids and butlers business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the maids and butlers business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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