Business Exit Planning
Selling a Media Monitoring Business
For the right sellers, the business-for-sale marketplace is a friendly environment for media monitoring business opportunities. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Many business owners don't know that media monitoring businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Family Issues
You're ready to sell your media monitoring business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a media monitoring business has to include ample communication and shared decision-making.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based media monitoring business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Share this article
Additional Resources for Entrepreneurs