Sell a Business Tips
Selling a Speech and Hearing Information and Referral Services Business
Although a speech and hearing information and referral services business may not be completely recession-proof, the best companies can survive nearly any storm. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
In a skittish economy, speech and hearing information and referral services business sellers can access several strategies to receive fair market value from entrepreneurs who understand the value of a good business investment.
Signs You're in Over Your Head
Many speech and hearing information and referral services business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. 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.
Closing Strategies
Today's speech and hearing information and referral services business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young speech and hearing information and referral services business owner, they can be critical launching points for their ownership journey.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
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