How to Sell a Niche Market Business
Selling an Educational Organization
Think educational organization sales have dwindled to a standstill? Think again. Here's what you need to know to get a fair price for your company.
In a down economy, many educational organization sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of educational organizations that are actually for sale.
To achieve your goals, you'll need to know the market as well as key business selling techniques. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Family Business Sale Tips
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your educational organization stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Broker vs. No Broker
When selling an educational organization, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling an educational organization. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered educational organization sale.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your educational organization. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
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