Mastering Niche Market Exit Planning
Selling a Notary Public School
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet notary public schools continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your notary public school can attract buyers who recognize its potential.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a notary public school sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Preparing Your Notary Public School for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable notary public school sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your notary public school. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
Signs You're in Over Your Head
Many notary public school 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. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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