Sell a Business Tips
Selling a Social and Human Services Business
The sale of your social and human services business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
A business exit is always a trying experience. But when you need to sell your social and human services business in a depressed economy, the challenges can seem insurmountable.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to social and human services businesses that exhibit strong financials and potential for future growth.
Factoring In Economic Variables
Think a social and human services business sale is simple? Think again. Interest rates, spending, inflation, and other variables directly influence how long your social and human services business will be on the market as well as its sales price. If you base the decision to sell your social and human services business solely on the market, you may be in for a long wait. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
Leveraging Industry Connections
Today's social and human services business buyers can be found in a variety of locations. 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. Time and time again, successful social and human services business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Share this article
Additional Resources for Entrepreneurs