Mastering Niche Market Exit Planning
Selling a Newspaper Feature Syndicates Business
Your newspaper feature syndicates business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
It's a fact: Successful business sales take time.
To achieve your goals, you'll need to know the market as well as key business selling techniques. But for business sellers, the process begins with having the right mental attitude.
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.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your newspaper feature syndicates business in the business-for-sale marketplace. But your knowledge and personal insights about the newspaper feature syndicates business are also the problem. You see your company's potential. But buyers don't pay for potential - they pay for current market value. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
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