Business Exit Planning
Selling a Missing Persons Organizations Business
When it's time to sell your missing persons organizations business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a missing persons organizations business sale works.
Too often missing persons organizations business sellers cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the missing persons organizations business. The sale of the business will likely result in new family dynamics. Subsequently, selling a missing persons organizations business has to include ample communication and shared decision-making.
Sale Documents
In a missing persons organizations business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your missing persons organizations business until the prospect has been qualified as a serious buyer.
Share this article
Additional Resources for Entrepreneurs