Sell a Business Tips
Selling a School for the Blind
Is the economy still a little shaky for a business sale? Sure it is. Yet schools for the blind haven't heard the news and are reporting steady action on the business-for-sale market.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
To sell a school for the blind now, you need to apply the right combination of preparation, strategy and common sense.
Finding Prospects
Whether you know it or not, prospective buyers for your school for the blind are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. 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 schools for the blind than other buyers.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. 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. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the school for the blind on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the school for the blind-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your school for the blind. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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