Business Exit Planning
Selling a Mobile Home Insurance Business
Over the past few years, the mobile home insurance business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling a mobile home insurance business during challenging economic times.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
If you're ready to move on, now is the right time to sell your mobile home insurance business.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a mobile home insurance business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Signs You're in Over Your Head
Many mobile home insurance business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your mobile home insurance business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Laying the Groundwork
Effective mobile home insurance business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a mobile home insurance business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your mobile home insurance business on the market.
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