Sell a Business Tips
Selling a Singles Organizations Business
Selling a singles organizations business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
You need to get a good price for your singles organizations business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
You'll always have an excuse for not putting your business on the market. Selling a singles organizations business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Family Issues
Many sellers embarked on their singles organizations 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 singles organizations business. The sale of the business will likely result in new family dynamics. Subsequently, selling a singles organizations business has to include ample communication and shared decision-making.
Leveraging Industry Connections
There are a lot of different places to look for singles organizations business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions singles organizations business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Share this article
Additional Resources for Entrepreneurs