Business Exit Planning
Selling a Marriage Records Business
With the economy struggling to rebound, the shadow inventory of marriage records businesses in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful marriage records business
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a marriage records business isn't easy, but we believe sellers can achieve their goals in any economic environment.
The Case for Confidentiality
Confidentiality determines risk in the business-for-sale marketplace. If you are rigorous about maintaining a confidential sale, there is little risk in putting your marriage records business on the market. But if word leaks out to the wrong people, your competitors can use that information to steal business and damage your credibility. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Preparing for What's Next
So you've decided to sell your marriage records business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Leveraging External Resources
Rarely, if ever, do owners sell a marriage records business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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