Niche Exit Planning Tactics
Selling a Writing School
With the economy struggling to rebound, the shadow inventory of writing schools in the business-for-sale marketplace seems to be rising. That could make this the perfect time to list a successful writing school
An assortment of hurdles and obstacles stand between you and the successful sale of your writing school.
If you're ready to move on, now is the right time to sell your writing school.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your writing school. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
How to Skillfully Address Buyer Concerns
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions writing school ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Selling Time
Hoping for a quick writing school sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. On average, it takes a minimum of six months to prepare a writing school for sale and many sellers spend a year or more positioning their business to command a higher price. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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