Optimizing Business Exits
Selling a Rental Vacancy and Listing Service Business
A lot can go wrong during the sale of a rental vacancy and listing service business in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Personal and professional concerns surround the sale of a rental vacancy and listing service business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your rental vacancy and listing service business a success.
Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a rental vacancy and listing service business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
How to Work with Business Brokers
Many sellers employ business brokers to manage the details and direction of their sale. Brokers routinely work with rental vacancy and listing service business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
How to Identify Prospective Buyers
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.
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