Advice on Niche Market Exit Planning
Selling a Technical Writers Business
Nervous about selling your technical writers business? You shouldn't be. Our tips will help you get the highest price for your technical writers business, regardless of what's happening with the economy.
Personal and professional concerns surround the sale of a technical writers business. In our experience, a common owner concern is how the sale will affect customers and employees.
If you're ready to move on, now is the right time to sell your technical writers business.
Selling to a Family Member
There is no easy way to sell a technical writers business, not even to a family member. In fact, selling your technical writers business to a family member can quickly become a no-win proposition. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Preparing Your Technical Writers Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful technical writers business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your technical writers business. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your technical writers business. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a technical writers business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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