Business Exit Planning
Selling a Mutual Funds and Brokers Business
Nervous about selling your mutual funds and brokers business? You shouldn't be. Our tips will help you get the highest price for your mutual funds and brokers business, regardless of what's happening with the economy.
Intimidated by a sluggish economy, business buyers are more cautious than ever.
There are many factors involved with the decision to sell a business. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a mutual funds and brokers business sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Finding Prospects
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
When to End Negotiations
If the devil is in the details, the negotiation stage of a mutual funds and brokers business sale is the devil's playground. Yet eventually many negotiations reach a stage where further discussion is pointless. In a mutual funds and brokers 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.
Sale Documents
In a mutual funds and brokers 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.
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