Optimizing Business Exits
Selling a Records Management Consultants Business
Selling a records management consultants business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
The economy isn't the only thing that is uncertain these days. So are records management consultants business buyers, many of whom are waiting to pull the trigger on their next acquisition.
There is no simple way to sell a business. But the most prepared records management consultants business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. 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. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for records management consultants businesses than other buyers.
Workforce Concerns
Business sellers walk a fine line when it comes to preparing their employees for a sale. 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. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Broker vs. No Broker
When selling a records management consultants business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a records management consultants business. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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