Sell a Business Tips
Selling a Sports Psychologists Business
The decision to sell your sports psychologists business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You won't find any magic formulas for selling a sports psychologists business, especially while the market is struggling to overcome the perceptions created by a down economy.
If your exit strategy involves selling a sports psychologists business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the sports psychologists business is coming to an end, the time to sell is now. Opinions are mixed and some consultants are advising sports psychologists business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the sports psychologists business marketplace. The inventory of what we consider to be quality sports psychologists businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your sports psychologists business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your sports psychologists business until the prospect has been qualified as a serious buyer.
Sale Costs
In a sports psychologists business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a sports psychologists business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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