Sell a Business Tips
Selling a Speech Correction Program
Your speech correction school has been good to you. Now the trick is to convince cautious buyers that your operation is worth the asking price.
You need to get a good price for your speech correction school. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Despite the conventional wisdom, we believe current economic conditions are right for selling a speech correction school. We'll tell you what you need to know to achieve a successful sale outcome
Sale Preparations for Your Speech Correction Program
The outcome of a business sale is largely determined prior to a market listing. Profitable speech correction school listings are the culmination of a preparation process that began months or even years ahead of time. Everything you do to increase market share and profitability has a payoff in the final sale price of your speech correction school. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
Signs You're in Over Your Head
Many speech correction school are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your speech correction school. 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. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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