Business Exit Planning
Selling a Mortuary School
A lot can go wrong during the sale of a mortuary school in today's economy. We'll tell you how to keep your sale and your future plans on track.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Most mortuary schools are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Maintaining Objectivity
For most owners, the hardest part of selling a mortuary school is remaining objective. You have invested yourself in making your mortuary school the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the mortuary school-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your mortuary school on BizBuySell.com and other online business-for-sale sites.
The Case for Confidentiality
Highly publicized mortuary school sales are risky mortuary schoolsales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. 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.
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