Optimizing Business Exits
Selling a Retirement Housing Consultants Business
A good business is about more than dollars and sense. To make your retirement housing consultants business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a retirement housing consultants business. Here's how to do it . . .
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a retirement housing consultants business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Sale Documents
In a retirement housing consultants business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for retirement housing consultants business sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your retirement housing consultants business as attractive as possible so to buyers right now.
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