How to Sell a Niche Market Business
Selling an Employee Training Business
Selling an employee training business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
In a down economy, many employee training business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of employee training businesses that are actually for sale.
Many business owners don't know that employee training businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Broker vs. No Broker
When selling an employee training business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your employee training business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Realistic Expectations
For most owners, the hardest part of selling an employee training business is remaining objective. You have invested yourself in making your employee training business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Negotiation Exit Strategy
The negotiation stage of an employee training business can seem never-ending. Yet eventually many negotiations reach a stage where further discussion is pointless. In an employee training business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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