Advice on Niche Market Exit Planning
Selling a Tax Sheltered Investments Business
Selling a tax sheltered investments business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Like it or not, a tax sheltered investments business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. But have you considered how your customers, vendors and employees will handle the sale?
Many business owners don't know that tax sheltered investments businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. In the tax sheltered investments business industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. Some experts are telling tax sheltered investments business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your tax sheltered investments business now, there is a high probability that you can sell it in the current market. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
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