Business Exit Planning
Selling a Media Brokers Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet media brokers businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The economy isn't the only thing that is uncertain these days. So are media brokers business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Too often media brokers business owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the media brokers business is coming to an end, the time to sell is now. Some experts are telling media brokers business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your media brokers business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality media brokers businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Selling a Media Brokers Business to an Employee
Employee sales have pros and cons. A key employee may seem like a natural sales prospect. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based media brokers business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your media brokers business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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