Optimizing Business Exits
Selling a Relocation Services Business
No one said selling your business in a depressed economy would be easy. Fortunately, a relocation services business sale isn't as scary as it seems.
Selling a relocation services business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a relocation services business.
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. 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.
Leveraging External Resources
Rarely, if ever, do owners sell a relocation services business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your relocation services business, you can avoid painful tax and legal complications both before and after closing.
Seller Concessions
It's becoming more difficult to sell a relocation services business without considering seller concessions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
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