Advice on Niche Market Exit Planning
Selling a Travel Insurance Business
A lot can go wrong during the sale of a travel insurance business these days. With little room for error, your business sale has to feature the flawless execution of concepts that are driving today's business-for-sale marketplace.
Personal and professional concerns surround the sale of a travel insurance business. But have you considered how your customers, vendors and employees will handle the sale?
Nothing lasts forever and you will ultimately be faced with the task of selling your company. And when that day arrives, you need to know how to sell your travel insurance business in a way that achieves positive outcomes for you and the business.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the travel insurance business-for-sale market, where aggressive selling strategies are the norm. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Moving On
So you've decided to sell your travel insurance business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your travel insurance business attractive to buyers.
Finding Travel Insurance Business Buyers
It's difficult to predict where the buyer of your travel insurance business will come from. So you'll need to take a diverse approach to identifying prospective buyers. Many sellers achieve success by listing their travel insurance businesses in multiple channels. networking may also prove to be a valuable resource for identifying prospective buyers, but only to the extent that it can be done discreetly.
Share this article
Additional Resources for Entrepreneurs