Sell a Business for the Best Price
Selling a Programmed Instruction Business
Market shifts affect business values and the programmed instruction business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a programmed instruction business in the current economic environment.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a programmed instruction business sale works.
Despite the conventional wisdom, we believe current economic conditions are right for selling a programmed instruction business. We'll tell you what you need to know to achieve a successful sale outcome
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Whether you realize it or not, your programmed instruction business has been an important part of your family life. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a programmed instruction business has to include ample communication and shared decision-making.
Business Assets
It's incumbent on buyers to commission their own appraisal of your programmed instruction business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Sale Costs
In a programmed instruction business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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