Sell a Business Tips
Selling a Soaring Organizations Business
Selling a soaring organizations business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
These days, the prospect of selling a soaring organizations business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
To sell a soaring organizations business in this environment, you need to apply the right combination of preparation, strategy and common sense.
Average Timeframes
Hoping for a quick soaring organizations business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your soaring organizations business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Family Business Sale Tips
There is no easy way to sell a soaring organizations business, not even to a family member. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Broker vs. No Broker
Anyone who has ever sold a soaring organizations business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your soaring organizations business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your soaring organizations business on BizBuySell.com and other popular online business-for-sale listing sites.
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