Sell a Business Tips
Selling a Secretarial Employment Agencies Business
Market perceptions play a role in your ability to sell a secretarial employment agencies business. Yet great values are always received well in the business-for-sale marketplace. All it takes is a strategy to identify solid prospects and convert them to buyers.
Dire economic forecasts have forced many secretarial employment agencies business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the secretarial employment agencies business market and locate potential buyers ASAP.
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 secretarial employment agencies business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your secretarial employment agencies business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
Realistic Expectations
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Sale Documents
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. 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.
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