How to Sell a Niche Market Business
Selling an Estate Planning Insurance Business
Most businesses are susceptible to economic conditions and estate planning insurance businesses are no exception. But in some cases, a down economy can actually improve saleability. Now all you have to do is convince the right buyer that your business is built for long-term success.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
However, serious buyers also understand the value of a good estate planning insurance business. To sell your estate planning insurance business, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your estate planning insurance business in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful estate planning insurance business sale.
Sweetening the Deal
Today's estate planning insurance business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young estate planning insurance business owner, they can be critical launching points for their ownership journey.
Timing Your estate planning insurance business Sale
Most business owners know when it's time to exit their company. Some experts are telling estate planning insurance business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the estate planning insurance business marketplace. The inventory of what we consider to be quality estate planning insurance businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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