Optimizing Business Exits
Selling a Retirement Communities and Homes Business
The decision to sell your retirement communities and homes business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You need to get a good price for your retirement communities and homes business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
More than a few retirement communities and homes business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Preparing Family Members
Many sellers embarked on their retirement communities and homes business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the retirement communities and homes business. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a retirement communities and homes business has to include ample communication and shared decision-making.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your retirement communities and homes business, your business brokers may or may not be willing to conduct negotiations for you. A solo negotiation is a surefire way to may a tough job even tougher. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your retirement communities and homes business.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the retirement communities and homes business industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
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