Sell a Business Tips
Selling a Secretarial Services Business
The decision to sell your secretarial services 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.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Yet everyday, hundreds of listed secretarial services businesses manage to pique the interest of qualified buyers. They do it by paying attention to the details that other business sellers overlook.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for secretarial services 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. Like it or not, the time to sell your secretarial services business may be right now, as long as your willing to adequately prepare your business for the marketplace.
Selling a Secretarial Services Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
The Best Person to Sell Your Secretarial Services Business
There are benefits and drawbacks to handling the sale of your secretarial services business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your secretarial services business in the business-for-sale marketplace. But your knowledge and personal insights about the secretarial services business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the secretarial services business to gain an objective sense of fair market value.
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