Business Exit Planning
Selling a Marketing and Public Relations Business
You've learned a lot during your tenure as a marketing and public relations business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
When the economy recovers, we expect to see a sudden influx of marketing and public relations businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
In today's market, there is still plenty of room for marketing and public relations businesses that demonstrate solid earning capacity and a robust market position.
Seller Financing
Business buyers are in a capital crunch. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
What to Expect in a Marketing & Public Relations Business Sale
The sale of a marketing and public relations business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a marketing and public relations business sale by setting realistic expectations before you list your business.
Broker vs. No Broker
When selling a marketing and public relations business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. 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 marketing and public relations 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 marketing and public relations business on BizBuySell.com and other popular online business-for-sale listing sites.
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