How to Sell a Niche Market Business
Selling an Employment Background Checks Business
No one said selling your business in a depressed economy would be easy. Fortunately, a employment background checks business sale isn't as scary as it seems.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
At Gaebler, we're seeing employment background checks business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
When the Sale Goes Off-Course
Many employment background checks business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your employment background checks business. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your employment background checks business until the prospect has been qualified as a serious buyer.
Laying the Groundwork
A successful employment background checks business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium employment background checks business opportunity.
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